Republic Services, Inc. (NYSE:RSG) Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Republic Services by 0.6%, holding 923,979 shares valued at approximately $223.75 million after purchasing an additional 5,265 shares during the first quarter.
• Republic Services recently declared a quarterly dividend of $0.625, a raise from the previous dividend of $0.58, which reflects a 1.1% yield.
• Analysts remain positive on Republic Services, with a consensus rating of "Moderate Buy" and a price target of approximately $262.17 as per current assessments.

Raymond James Financial Inc. increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 923,979 shares of the business services provider's stock after purchasing an additional 5,265 shares during the period. Raymond James Financial Inc. owned 0.30% of Republic Services worth $223,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Cresset Asset Management LLC boosted its stake in Republic Services by 7.2% in the 1st quarter. Cresset Asset Management LLC now owns 11,485 shares of the business services provider's stock worth $2,781,000 after purchasing an additional 773 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in Republic Services by 1.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 22,459 shares of the business services provider's stock worth $5,439,000 after purchasing an additional 262 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Republic Services by 10.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,173 shares of the business services provider's stock worth $1,011,000 after purchasing an additional 403 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Republic Services by 6.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,407 shares of the business services provider's stock worth $1,310,000 after buying an additional 346 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in Republic Services by 145.3% during the 1st quarter. Aberdeen Group plc now owns 115,598 shares of the business services provider's stock valued at $27,783,000 after acquiring an additional 68,477 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Raymond James Financial lifted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Scotiabank lifted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Finally, Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Price Performance

Shares of NYSE RSG opened at $232.88 on Friday. The firm has a market cap of $72.71 billion, a PE ratio of 34.45, a PEG ratio of 3.63 and a beta of 0.60. The firm has a fifty day moving average of $241.62 and a 200 day moving average of $240.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. 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 issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 34.32%.

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.

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