Citizens Financial Group Inc. RI Increases Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• Citizens Financial Group Inc. significantly increased its stake in Republic Services, raising its holdings by 510.0% to a total of 32,485 shares valued at approximately $7.87 million.
• Several analysts have adjusted their price targets for Republic Services, with the average target now at $262.17, indicating a consensus of a "Moderate Buy" rating.
• Republic Services announced a quarterly dividend increase to $0.625 per share, representing an annualized dividend of $2.50 and a yield of 1.1%.

Citizens Financial Group Inc. RI increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 510.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,485 shares of the business services provider's stock after purchasing an additional 27,160 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Republic Services were worth $7,867,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after acquiring an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after purchasing an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after acquiring an additional 47 shares during the last quarter. Finally, FORA Capital LLC raised its holdings in shares of Republic Services by 0.7% during the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after acquiring an additional 50 shares during the period. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RSG shares. Robert W. Baird raised their price target on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Scotiabank boosted their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. National Bank Financial upgraded Republic Services to a "hold" rating in a report on Monday, May 26th. Finally, Raymond James Financial boosted their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Nine equities research 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. According to MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Up 1.4%

Shares of NYSE:RSG opened at $235.40 on Thursday. The firm has a 50 day simple moving average of $244.57 and a 200-day simple moving average of $238.83. Republic Services, Inc. has a twelve month low of $197.30 and a twelve month high of $258.75. 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 company has a market capitalization of $73.50 billion, a PE ratio of 34.82, a P/E/G ratio of 3.62 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Republic Services 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.

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