Hilton Capital Management LLC Has $11.77 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Hilton Capital Management LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,486 shares of the business services provider's stock after selling 19,307 shares during the quarter. Republic Services accounts for 1.0% of Hilton Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Hilton Capital Management LLC's holdings in Republic Services were worth $11,766,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock worth $3,586,000 after acquiring an additional 4,827 shares during the last quarter. TCW Group Inc. increased its stake in shares of Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock worth $23,013,000 after acquiring an additional 13,138 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Republic Services in the fourth quarter worth $4,430,000. Hickory Point Bank & Trust acquired a new position in shares of Republic Services in the fourth quarter worth $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Republic Services in the third quarter worth $6,102,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

RSG has been the subject of a number of recent research reports. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a report on Tuesday, March 4th. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. Stifel Nicolaus upped their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Truist Financial reaffirmed a "buy" rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.88.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Republic Services Stock Performance

NYSE RSG traded down $1.90 during trading on Tuesday, reaching $233.86. The company's stock had a trading volume of 946,122 shares, compared to its average volume of 1,015,508. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $73.03 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $240.95. The firm has a 50 day moving average price of $222.65 and a 200 day moving average price of $211.95.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is presently 35.75%.

About Republic Services

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.