Republic Services, Inc. $RSG Shares Bought by National Pension Service

Key Points

• The National Pension Service increased its stake in Republic Services by 7.2% in the first quarter, holding approximately $85.62 million in shares.
• Republic Services recently declared a quarterly dividend increase from $0.58 to $0.625, reflecting an annualized payout of $2.50 and a dividend yield of 1.1%.
• Analysts have varied ratings on Republic Services, with a consensus price target of $262.17 and a significant number of analysts advising a "hold" rating.

National Pension Service raised its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 353,562 shares of the business services provider's stock after buying an additional 23,805 shares during the quarter. National Pension Service owned about 0.11% of Republic Services worth $85,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock valued at $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after acquiring an additional 499,237 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after acquiring an additional 119,158 shares during the period. Northern Trust Corp increased its holdings in shares of Republic Services by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after purchasing an additional 280,542 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after buying an additional 2,220,487 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Down 0.1%

Shares of NYSE:RSG traded down $0.34 during midday trading on Monday, reaching $232.51. 568,533 shares of the company's stock were exchanged, compared to its average volume of 1,297,387. The firm's 50 day simple moving average is $241.62 and its two-hundred day simple moving average is $240.15. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. 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 stock has a market cap of $72.59 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.63 and a beta of 0.60.

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, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the business posted $1.61 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. 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. Republic Services's payout ratio is currently 34.32%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Raymond James Financial raised their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. BMO Capital Markets lifted their price target on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.