National Bank of Canada FI Acquires 147,241 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• National Bank of Canada FI increased its stake in Republic Services, Inc. by 63.4%, acquiring an additional 147,241 shares, thereby owning approximately 0.12% of the company worth about $91.86 million.
• Republic Services recently declared a quarterly dividend of $0.625 per share, which indicates an annualized dividend of $2.50 with a yield of 1.1%, up from a previous dividend of $0.58.
• Analysts have mixed but generally positive outlooks on Republic Services, with a consensus rating of "Moderate Buy" and a price target of approximately $262.17, reflecting recognition of the company's growth potential.

National Bank of Canada FI boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 63.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 379,358 shares of the business services provider's stock after buying an additional 147,241 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Republic Services worth $91,863,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RSG. Versant Capital Management Inc increased its holdings in shares of Republic Services by 0.4% during the first 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 in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Republic Services by 0.5% during 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 acquiring an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of 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 valued at $279,000 after acquiring an additional 46 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after acquiring an additional 47 shares in the last quarter. Finally, FORA Capital LLC boosted 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 buying an additional 50 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. BMO Capital Markets increased their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Finally, Raymond James Financial boosted 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. Nine investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $1.72 during midday trading on Monday, reaching $236.93. 904,235 shares of the company traded hands, compared to its average volume of 1,431,663. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. 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 $73.97 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The firm's fifty day moving average price is $243.75 and its two-hundred day moving average price is $239.49.

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 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 for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the company posted $1.61 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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