Brookstone Capital Management Acquires 2,564 Shares of Republic Services, Inc. (NYSE:RSG)

Brookstone Capital Management boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 23.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,622 shares of the business services provider's stock after buying an additional 2,564 shares during the period. Brookstone Capital Management's holdings in Republic Services were worth $2,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. Capital World Investors grew its holdings in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider's stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares during the period. Norges Bank purchased a new stake in Republic Services in the fourth quarter valued at approximately $358,837,000. TD Asset Management Inc grew its holdings in Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider's stock valued at $329,680,000 after purchasing an additional 1,393,918 shares during the period. M&G Plc purchased a new stake in Republic Services in the first quarter valued at approximately $130,892,000. Finally, Corient Private Wealth LLC grew its holdings in Republic Services by 136.5% in the fourth quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider's stock valued at $59,681,000 after purchasing an additional 208,902 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research reports. Stifel Nicolaus boosted 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. Oppenheimer decreased their price objective on shares of Republic Services from $211.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Scotiabank boosted their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a research note on Thursday, May 23rd. They set a "hold" rating and a $203.00 price objective for the company. Finally, UBS Group boosted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $211.00.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the company's stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares of the company's stock, valued at $100,040.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Up 0.2 %

RSG traded up $0.39 during trading on Friday, hitting $203.27. The company had a trading volume of 747,952 shares, compared to its average volume of 1,406,216. The company has a market cap of $63.84 billion, a PE ratio of 35.66, a P/E/G ratio of 3.25 and a beta of 0.69. The business has a 50-day moving average of $196.14 and a 200-day moving average of $189.21. 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 $206.54.

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

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.14%. Republic Services's dividend payout ratio is currently 37.54%.

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.