Republic Services, Inc. (NYSE:RSG) Shares Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. significantly increased its holdings in Republic Services by 454.5%, acquiring an additional 10,000 shares and bringing its total to 12,200 shares valued at approximately $2,954,000.
• Republic Services has announced a quarterly dividend of $0.625, increasing from its previous dividend of $0.58, with a dividend yield of 1.1%.
• The company reported earnings per share (EPS) of $1.77 for the last quarter, surpassing analysts' expectations, with revenues of $4.24 billion, indicating a 4.6% year-over-year increase.

iA Global Asset Management Inc. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 454.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,200 shares of the business services provider's stock after purchasing an additional 10,000 shares during the period. iA Global Asset Management Inc.'s holdings in Republic Services were worth $2,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of 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 purchasing an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in 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 buying 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 period. FORA Capital LLC increased its position in shares of Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after acquiring an additional 50 shares during the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Republic Services by 9.3% in the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after acquiring an additional 51 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.0%

Shares of Republic Services stock traded down $0.10 during trading on Thursday, hitting $235.42. 1,593,705 shares of the stock were exchanged, compared to its average volume of 1,482,557. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm's 50-day moving average price is $244.20 and its 200 day moving average price is $238.98. The stock has a market cap of $73.50 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth 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.

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

Republic Services Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's dividend payout ratio is 36.98%.

Analyst Upgrades and Downgrades

RSG has been the subject of several research reports. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer lifted their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Raymond James Financial increased their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Finally, Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company 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.