Zions Bancorporation National Association UT Acquires Shares of 1,542 Republic Services, Inc. (NYSE:RSG)

Key Points

• Zions Bancorporation has initiated a position in Republic Services, purchasing 1,542 shares valued at approximately $373,000.
• Republic Services has recently increased its quarterly dividend from $0.58 to $0.625 per share, representing an annual yield of about 1.1%.
• Most analysts have rated Republic Services with a consistent outlook, resulting in a consensus target price of $262.17 and an average rating of "Moderate Buy."

Zions Bancorporation National Association UT acquired a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,542 shares of the business services provider's stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Republic Services by 1.1% in the 4th quarter. Federated Hermes Inc. now owns 13,943 shares of the business services provider's stock valued at $2,805,000 after buying an additional 155 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Republic Services by 31.6% in the 4th quarter. Scotia Capital Inc. now owns 4,290 shares of the business services provider's stock valued at $863,000 after buying an additional 1,031 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Republic Services by 4.5% in the 4th quarter. Townsquare Capital LLC now owns 58,942 shares of the business services provider's stock valued at $11,858,000 after buying an additional 2,534 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Republic Services in the 4th quarter valued at about $259,000. Institutional investors own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RSG shares. Citigroup upped their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. National Bank Financial raised Republic Services to a "hold" rating in a research note on Monday, May 26th. Robert W. Baird boosted their price objective on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Finally, Scotiabank boosted their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Stock Performance

Shares of RSG stock traded down $0.10 during trading on Thursday, hitting $232.64. The company's stock had a trading volume of 1,097,828 shares, compared to its average volume of 1,303,302. The company has a market cap of $72.64 billion, a PE ratio of 34.41, a P/E/G ratio of 3.64 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $242.43 and a 200-day moving average of $239.58. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is currently 36.98%.

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.