Newbridge Financial Services Group Inc. Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Newbridge Financial Services Group Inc. grew its holdings in Republic Services, Inc. (NYSE:RSG) by 368.7% during the second quarter, HoldingsChannel reports. The fund owned 703 shares of the business services provider’s stock after purchasing an additional 553 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Republic Services were worth $137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new position in Republic Services in the first quarter valued at approximately $29,000. EntryPoint Capital LLC purchased a new position in shares of Republic Services in the 1st quarter valued at $29,000. Jones Financial Companies Lllp raised its stake in Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Republic Services in the second quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services during the second quarter worth about $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.3 %

Shares of RSG stock opened at $200.09 on Thursday. The business’s fifty day moving average price is $202.09 and its 200 day moving average price is $194.72. The firm has a market capitalization of $62.84 billion, a PE ratio of 35.10, a P/E/G ratio of 3.20 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. Republic Services’s payout ratio is 37.54%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Raymond James decreased their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. TD Cowen upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. CIBC raised their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $211.00.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.