Citigroup Inc. Acquires 201,626 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Citigroup Inc. has increased its holdings in Republic Services, Inc. by 126.2%, owning 361,341 shares worth approximately $87.5 million as of the latest SEC filing.
• Republic Services announced a quarterly dividend of $0.625 per share, an increase from its previous dividend of $0.58, set to be paid on October 15th.
• Several analysts have rated Republic Services with a moderate buy average, noting a consensus target price of $262.17 for the stock.

Citigroup Inc. increased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 126.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,341 shares of the business services provider's stock after purchasing an additional 201,626 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Republic Services worth $87,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RSG. Golden State Wealth Management LLC lifted its holdings in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the period. Key Financial Inc lifted its holdings in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the period. TCTC Holdings LLC lifted its holdings in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the period. Park Square Financial Group LLC purchased a new stake in Republic Services in the fourth quarter worth about $44,000. Finally, Cheviot Value Management LLC purchased a new stake in Republic Services in the first quarter worth about $49,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Down 0.1%

Shares of RSG stock opened at $235.36 on Friday. The stock has a market cap of $73.48 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.67 and a beta of 0.60. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a 50 day simple moving average of $243.75 and a two-hundred day simple moving average of $239.30. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

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

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio is 34.32%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Robert W. Baird raised their target price on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research note on Monday, May 26th. Morgan Stanley increased their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Finally, Oppenheimer increased their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.