Mackenzie Financial Corp Grows Stake in Republic Services, Inc. (NYSE:RSG)

Mackenzie Financial Corp boosted its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 25.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,062 shares of the business services provider's stock after purchasing an additional 76,414 shares during the quarter. Mackenzie Financial Corp owned about 0.12% of Republic Services worth $90,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after acquiring an additional 499,237 shares in the last quarter. Geode Capital Management LLC boosted its position in Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after acquiring an additional 57,616 shares in the last quarter. Northern Trust Corp boosted its position in Republic Services by 13.1% during the 4th quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after acquiring an additional 280,542 shares in the last quarter. GAMMA Investing LLC boosted its position in Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Republic Services by 12.4% during the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock valued at $494,930,000 after acquiring an additional 224,867 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RSG shares. BMO Capital Markets reissued an "outperform" rating and issued a $280.00 price objective (up previously from $268.00) on shares of Republic Services in a research report on Monday, June 9th. Morgan Stanley raised their price objective on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Robert W. Baird raised their price objective on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Oppenheimer raised their price objective on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $258.16.

Republic Services Stock Performance

NYSE RSG opened at $241.47 on Tuesday. The stock has a 50-day simple moving average of $247.19 and a two-hundred day simple moving average of $238.05. The firm has a market capitalization of $75.46 billion, a P/E ratio of 36.42, a PEG ratio of 3.72 and a beta of 0.61. Republic Services, Inc. has a fifty-two week low of $190.50 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66.

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 paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

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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