Mirae Asset Global Investments Co. Ltd. Buys 3,273 Shares of Republic Services, Inc. (NYSE:RSG)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 18.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,955 shares of the business services provider's stock after purchasing an additional 3,273 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Republic Services were worth $4,999,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC boosted its position in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after acquiring an additional 73 shares during the period. Park Square Financial Group LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new position in shares of Republic Services during the 4th quarter valued at $45,000. Proathlete Wealth Management LLC bought a new position in shares of Republic Services in the first quarter worth $76,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Republic Services in the first quarter worth $77,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on RSG. Scotiabank upped their price objective on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. BMO Capital Markets restated an "outperform" rating and set a $280.00 price target (up previously from $268.00) on shares of Republic Services in a research report on Monday, June 9th. Finally, Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a report on Monday, June 9th. Ten 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 company's stock. According to MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $252.68.

Republic Services Stock Up 1.5%

Shares of NYSE:RSG traded up $3.45 during trading on Thursday, reaching $241.14. 1,261,978 shares of the stock traded hands, compared to its average volume of 1,145,699. The stock has a market cap of $75.36 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 3.64 and a beta of 0.61. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50-day moving average of $249.02 and a two-hundred day moving average of $232.85. Republic Services, Inc. has a 52-week low of $188.82 and a 52-week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $1.45 EPS. The company's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

About Republic Services

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.