Penserra Capital Management LLC Buys 3,918 Shares of Republic Services, Inc. (NYSE:RSG)

Penserra Capital Management LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 721.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,461 shares of the business services provider's stock after purchasing an additional 3,918 shares during the period. Penserra Capital Management LLC's holdings in Republic Services were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in shares of Republic Services by 0.4% during the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after purchasing an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in 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 buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after buying an additional 46 shares in the last quarter. FORA Capital LLC increased its stake in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after acquiring an additional 50 shares during the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Republic Services by 9.3% during the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock worth $145,000 after acquiring an additional 51 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.5%

RSG traded up $1.27 during trading on Wednesday, hitting $240.58. 1,386,935 shares of the stock were exchanged, compared to its average volume of 1,145,705. 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 firm has a 50 day simple moving average of $248.73 and a 200 day simple moving average of $234.04. The firm has a market cap of $75.18 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 3.72 and a beta of 0.61. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share 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 firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.21.

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.