Hilton Capital Management LLC Purchases New Stake in Republic Services, Inc. (NYSE:RSG)

Hilton Capital Management LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 77,793 shares of the business services provider's stock, valued at approximately $15,624,000. Republic Services comprises 1.2% of Hilton Capital Management LLC's investment portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd grew its position in shares of Republic Services by 292.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,887 shares of the business services provider's stock valued at $1,510,000 after acquiring an additional 5,877 shares during the period. Bessemer Group Inc. raised its position in Republic Services by 222.7% in the first quarter. Bessemer Group Inc. now owns 23,663 shares of the business services provider's stock valued at $4,529,000 after purchasing an additional 16,331 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Republic Services by 42.6% in the first quarter. Lake Street Advisors Group LLC now owns 2,086 shares of the business services provider's stock worth $399,000 after acquiring an additional 623 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Republic Services by 8.7% in the first quarter. National Bank of Canada FI now owns 117,646 shares of the business services provider's stock worth $22,263,000 after acquiring an additional 9,421 shares in the last quarter. Finally, InterOcean Capital Group LLC grew its stake in shares of Republic Services by 8.9% in the first quarter. InterOcean Capital Group LLC now owns 3,403 shares of the business services provider's stock worth $652,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $1.71 during trading on Wednesday, reaching $212.62. 990,311 shares of the company's stock traded hands, compared to its average volume of 1,120,167. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 12 month low of $158.68 and a 12 month high of $216.18. The company has a 50 day moving average of $204.01 and a 200-day moving average of $198.44. The stock has a market capitalization of $66.58 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 EPS. On average, equities analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is currently 37.12%.

Analysts Set New Price Targets

Several equities analysts have issued reports on RSG shares. BMO Capital Markets upped their price objective on shares of Republic Services from $209.00 to $211.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Stifel Nicolaus raised their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating for the company. Finally, Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.71.

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.