Raiffeisen Bank International AG Buys 2,070 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Raiffeisen Bank International AG increased its stake in Republic Services by 90.0%, acquiring an additional 2,070 shares and bringing its total holdings to 4,370 shares worth approximately $1,042,000.
• Republic Services has a consensus rating of "Moderate Buy" among analysts, with an average target price of $258.89, reflecting optimism in its stock value despite recent ratings adjustments.
• The company announced an increase in its quarterly dividend from $0.58 to $0.625 per share, indicating a strong commitment to returning value to shareholders with a dividend yield of 1.1%.

Raiffeisen Bank International AG lifted its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 90.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,370 shares of the business services provider's stock after buying an additional 2,070 shares during the quarter. Raiffeisen Bank International AG's holdings in Republic Services were worth $1,042,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RSG. Brighton Jones LLC raised its holdings in Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the period. World Investment Advisors raised its stake in shares of Republic Services by 35.4% during the fourth quarter. World Investment Advisors now owns 4,137 shares of the business services provider's stock valued at $832,000 after purchasing an additional 1,082 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Republic Services by 4.5% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,511 shares of the business services provider's stock worth $908,000 after acquiring an additional 196 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Republic Services by 5.8% during the 4th quarter. Wedbush Securities Inc. now owns 1,094 shares of the business services provider's stock worth $220,000 after acquiring an additional 60 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Republic Services by 32.5% during the 4th quarter. Russell Investments Group Ltd. now owns 213,738 shares of the business services provider's stock worth $43,000,000 after acquiring an additional 52,404 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Citigroup upped 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. Scotiabank upped their price target on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Finally, Melius started coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating for the company. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

Republic Services Price Performance

Republic Services stock traded down $0.10 during mid-day trading on Thursday, hitting $235.42. 1,593,705 shares of the company were exchanged, compared to its average volume of 1,482,557. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $244.57 and a 200 day moving average of $238.83. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The company has a market capitalization of $73.50 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60.

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, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side 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. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

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.