DAVENPORT & Co LLC Has $91.23 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

DAVENPORT & Co LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 377,996 shares of the business services provider's stock after acquiring an additional 1,283 shares during the period. DAVENPORT & Co LLC owned 0.12% of Republic Services worth $91,233,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RSG. Golden State Wealth Management LLC increased its holdings in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Republic Services during the 4th quarter valued at $44,000. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter valued at $45,000. Finally, Proathlete Wealth Management LLC acquired a new position in Republic Services during the first quarter worth $76,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley increased 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. Raymond James Financial reissued an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Finally, Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price for the company in a research report on Monday, June 9th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and a consensus target price of $252.68.

Republic Services Price Performance

Shares of NYSE RSG traded up $3.00 during trading on Thursday, reaching $240.69. The company had a trading volume of 602,049 shares, compared to its average volume of 1,141,528. Republic Services, Inc. has a 52 week low of $188.82 and a 52 week high of $258.75. The business's 50 day moving average price is $249.02 and its 200-day moving average price is $232.85. The stock has a market cap of $75.22 billion, a PE ratio of 36.25, a PEG ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $1.45 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

Republic Services Company 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.