Republic Services, Inc. (NYSE:RSG) Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Republic Services, Inc. by 11.9% during the first quarter, owning 891,516 shares valued at approximately $215,890,000 after selling 120,340 shares.
• Republic Services recently increased its quarterly dividend to $0.625 per share, representing a 1.1% dividend yield, with the ex-dividend date on October 2nd.
• Equities research analysts have rated Republic Services with an average of "Moderate Buy" and set a consensus price target of $262.17 per share.

American Century Companies Inc. lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 891,516 shares of the business services provider's stock after selling 120,340 shares during the quarter. American Century Companies Inc. owned 0.29% of Republic Services worth $215,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Capital Management Associates Inc purchased a new stake in Republic Services in the 1st quarter valued at approximately $314,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Republic Services by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after purchasing an additional 4,110 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Republic Services in the 1st quarter valued at approximately $260,000. Finally, GAMMA Investing LLC boosted its stake in shares of Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after acquiring an additional 3,503 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RSG shares. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $266.00 price target on shares of Republic Services in a research note on Friday, April 25th. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Robert W. Baird upped their target price on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Nine 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Up 0.2%

RSG stock opened at $232.88 on Friday. The company has a market cap of $72.71 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 3.63 and a beta of 0.60. 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 simple moving average of $241.62 and a 200-day simple moving average of $239.81. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio 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.

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