Van ECK Associates Corp boosted its position in Republic Services, Inc. (NYSE:RSG) by 16.2% during the 2nd quarter, Holdings Channel reports. The fund owned 57,520 shares of the business services provider’s stock after acquiring an additional 8,001 shares during the quarter. Van ECK Associates Corp’s holdings in Republic Services were worth $6,328,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Republic Services during the 1st quarter worth about $130,000. FMR LLC boosted its stake in Republic Services by 104.6% in the first quarter. FMR LLC now owns 143,930 shares of the business services provider’s stock valued at $11,570,000 after acquiring an additional 73,568 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Republic Services by 5.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 43,109 shares of the business services provider’s stock valued at $4,282,000 after purchasing an additional 2,189 shares during the last quarter. Natixis Advisors L.P. lifted its stake in Republic Services by 25.6% in the first quarter. Natixis Advisors L.P. now owns 26,845 shares of the business services provider’s stock valued at $2,667,000 after buying an additional 5,465 shares during the last quarter. Finally, Commerce Bank raised its position in Republic Services by 6.0% in the 1st quarter. Commerce Bank now owns 29,636 shares of the business services provider’s stock valued at $2,945,000 after purchasing an additional 1,666 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.
Shares of NYSE RSG opened at $123.44 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $39.30 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. The company has a 50-day simple moving average of $120.04 and a 200-day simple moving average of $110.31. Republic Services, Inc. has a 12 month low of $86.18 and a 12 month high of $126.25.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.49%. This is an increase from Republic Services’s previous quarterly dividend of $0.43. Republic Services’s dividend payout ratio (DPR) is currently 47.75%.
In related news, CFO Brian M. Delghiaccio sold 2,074 shares of Republic Services stock in a transaction on Wednesday, July 7th. The stock was sold at an average price of $114.00, for a total value of $236,436.00. Following the transaction, the chief financial officer now owns 3,379 shares in the company, valued at $385,206. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.
Several research analysts have weighed in on RSG shares. Morgan Stanley lifted their target price on Republic Services from $126.00 to $134.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. The Goldman Sachs Group upgraded shares of Republic Services from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, August 24th. Raymond James reissued an “outperform” rating and issued a $116.14 price target (down from $117.00) on shares of Republic Services in a report on Monday, July 26th. BMO Capital Markets boosted their target price on shares of Republic Services from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Finally, Oppenheimer raised their price objective on shares of Republic Services from $117.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $113.93.
About Republic Services
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
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