820,468 Shares in Republic Services, Inc. (NYSE:RSG) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired approximately 820,468 shares of Republic Services, Inc. (NYSE:RSG), valued at around $198.7 million, representing about 0.26% of the company's total shares as of the latest quarter.
• Republic Services has announced an increase in its quarterly dividend to $0.625 per share, payable on October 15th, up from the previous $0.58 dividend.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Republic Services, with price targets reaching up to $268.00 per share from Oppenheimer.

Nuveen LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 820,468 shares of the business services provider's stock, valued at approximately $198,685,000. Nuveen LLC owned about 0.26% of Republic Services as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Cooper Financial Group bought a new stake in shares of Republic Services in the first quarter valued at approximately $253,000. Strengthening Families & Communities LLC raised its stake in Republic Services by 29.5% during the 1st quarter. Strengthening Families & Communities LLC now owns 672 shares of the business services provider's stock valued at $163,000 after purchasing an additional 153 shares during the last quarter. Virtu Financial LLC acquired a new position in Republic Services during the 1st quarter valued at $304,000. Fiduciary Family Office LLC acquired a new position in Republic Services during the 1st quarter valued at $1,286,000. Finally, Benjamin Edwards Inc. raised its stake in Republic Services by 17.4% during the 1st quarter. Benjamin Edwards Inc. now owns 267,445 shares of the business services provider's stock valued at $64,765,000 after purchasing an additional 39,710 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RSG. BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley upped their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Finally, Citigroup raised their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Nine 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 0.0%

RSG stock traded down $0.10 during midday trading on Thursday, hitting $232.64. 1,097,831 shares of the company's stock were exchanged, compared to its average volume of 1,304,928. The stock's fifty day moving average price is $242.43 and its 200-day moving average price is $239.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $72.64 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. Research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 36.98%.

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.