Charles Schwab Investment Management Inc. Buys 11,091 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Charles Schwab Investment Management increased its holdings in Republic Services by 0.9%, owning 1.27 million shares worth approximately $309 million as of the latest SEC filing.
• Republic Services announced a quarterly dividend increase to $0.625 per share, reflecting a boost from the previous $0.58, with a yield of 1.1%.
• The company's stock has a market capitalization of $73.48 billion, with a recent price of $235.36 per share, down 0.1% as of the last trading session.

Charles Schwab Investment Management Inc. boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,277,990 shares of the business services provider's stock after purchasing an additional 11,091 shares during the period. Charles Schwab Investment Management Inc. owned about 0.41% of Republic Services worth $309,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $1,069,836,000 after acquiring an additional 499,237 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Republic Services by 13.1% in the 4th quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after acquiring an additional 280,542 shares during the last quarter. GAMMA Investing LLC raised its position in Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after purchasing an additional 2,220,487 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Republic Services by 12.4% in the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after acquiring an additional 224,867 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of Republic Services stock traded up $1.72 during trading on Monday, reaching $236.93. The company's stock had a trading volume of 904,235 shares, compared to its average volume of 1,304,345. 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 business's fifty day moving average price is $243.75 and its 200-day moving average price is $239.49. The firm has a market cap of $73.97 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 3.67 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 announced 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter last year, the company posted $1.61 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on RSG. BMO Capital Markets upped their price target on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Royal Bank Of Canada restated an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. Finally, Raymond James Financial lifted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Nine 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.