LGT Capital Partners LTD. Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Key Points

• LGT Capital Partners LTD. acquired a new position in Republic Services, purchasing 58,900 shares valued at approximately $14.26 million in the first quarter.
• Republic Services announced a quarterly dividend of $0.625 per share, an increase from the previous $0.58, with the ex-dividend date set for October 2nd.
• The stock has shown a 4.6% revenue increase year-over-year, reporting earnings of $1.77 per share, slightly surpassing analyst expectations of $1.76.

LGT Capital Partners LTD. acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,900 shares of the business services provider's stock, valued at approximately $14,263,000.

Other hedge funds also recently made changes to their positions in the company. J. Safra Sarasin Holding AG lifted its stake in Republic Services by 96.7% in the first quarter. J. Safra Sarasin Holding AG now owns 272,340 shares of the business services provider's stock worth $65,950,000 after acquiring an additional 133,914 shares during the period. Banco Santander S.A. bought a new stake in shares of Republic Services during the first quarter worth $225,000. PNC Financial Services Group Inc. grew its holdings in Republic Services by 4.3% in the first quarter. PNC Financial Services Group Inc. now owns 50,272 shares of the business services provider's stock worth $12,174,000 after purchasing an additional 2,079 shares during the last quarter. TIAA Trust National Association raised its position in Republic Services by 24.9% during the 1st quarter. TIAA Trust National Association now owns 4,108 shares of the business services provider's stock worth $995,000 after buying an additional 820 shares during the last quarter. Finally, Commerce Bank raised its stake in shares of Republic Services by 3.8% during the 1st quarter. Commerce Bank now owns 230,854 shares of the business services provider's stock worth $55,904,000 after buying an additional 8,539 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of RSG traded down $0.80 during trading hours on Thursday, hitting $234.72. The stock had a trading volume of 335,783 shares, compared to its average volume of 1,302,082. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The firm has a market capitalization of $73.28 billion, a PE ratio of 34.77, a PEG ratio of 3.62 and a beta of 0.60. The stock has a fifty day moving average price of $244.57 and a 200 day moving average price of $238.83.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. The firm 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%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared 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 is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent research reports. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Oppenheimer raised 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. Scotiabank increased their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. William Blair reiterated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Finally, Morgan Stanley upped their target price on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $262.17.

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.