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

Penserra Capital Management LLC lifted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 721.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,461 shares of the business services provider's stock after purchasing an additional 3,918 shares during the quarter. Penserra Capital Management LLC's holdings in Republic Services were worth $1,079,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after purchasing an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Republic Services by 3.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after buying an additional 218,729 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after buying an additional 499,237 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after buying an additional 57,616 shares during the period. Finally, Norges Bank acquired a new stake in shares of Republic Services in the fourth quarter valued at $553,039,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

NYSE:RSG traded down $0.42 during mid-day trading on Thursday, hitting $240.09. 367,517 shares of the company's stock traded hands, compared to its average volume of 1,274,285. The firm has a 50 day moving average of $248.52 and a two-hundred day moving average of $234.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The firm has a market capitalization of $75.03 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 3.67 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company earned $1.45 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. Republic Services's dividend payout ratio is currently 34.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. 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. William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Finally, Citigroup upped their target price on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.