Brookstone Capital Management Takes Position in Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Jul 6th, 2023

Brookstone Capital Management bought a new position in Republic Services, Inc. (NYSE:RSG – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,983 shares of the business services provider’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. ETF Managers Group LLC increased its position in Republic Services by 1.5% in the first quarter. ETF Managers Group LLC now owns 5,474 shares of the business services provider’s stock worth $740,000 after buying an additional 81 shares during the period. Macquarie Group Ltd. increased its stake in shares of Republic Services by 1.2% in the second quarter. Macquarie Group Ltd. now owns 6,656 shares of the business services provider’s stock valued at $871,000 after purchasing an additional 81 shares during the period. Princeton Global Asset Management LLC raised its holdings in shares of Republic Services by 1.2% during the fourth quarter. Princeton Global Asset Management LLC now owns 7,181 shares of the business services provider’s stock valued at $926,000 after buying an additional 82 shares during the last quarter. First Commonwealth Financial Corp PA boosted its position in shares of Republic Services by 2.4% during the first quarter. First Commonwealth Financial Corp PA now owns 3,605 shares of the business services provider’s stock worth $478,000 after buying an additional 85 shares during the period. Finally, Harbour Investments Inc. increased its position in Republic Services by 14.3% in the 4th quarter. Harbour Investments Inc. now owns 750 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 94 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of Republic Services stock opened at $151.15 on Thursday. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $153.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.16. The stock has a market cap of $47.81 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 3.03 and a beta of 0.67. The business has a fifty day simple moving average of $145.50 and a 200-day simple moving average of $135.24.

Republic Services (NYSE:RSG – Free Report) last released its earnings results on Thursday, April 27th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.11. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Republic Services had a return on equity of 16.66% and a net margin of 10.76%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 5.23 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.31%. Republic Services’s dividend payout ratio is 41.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RSG. Truist Financial began coverage on Republic Services in a report on Monday, April 17th. They set a “hold” rating and a $146.00 price target on the stock. StockNews.com started coverage on shares of Republic Services in a report on Thursday, May 18th. They issued a “buy” rating for the company. VNET Group reaffirmed a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. 22nd Century Group restated a “maintains” rating on shares of Republic Services in a report on Thursday, April 27th. Finally, TD Cowen initiated coverage on shares of Republic Services in a report on Thursday, March 30th. They issued a “market perform” rating and a $150.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $146.80.

Republic Services Company Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.