Invesco Ltd. Trims Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Invesco Ltd. decreased its holdings in Republic Services, Inc. by 0.1%, owning approximately 1,916,417 shares valued at $464 million as of its latest SEC filing.
• Republic Services has announced a quarterly dividend of $0.625 per share, an increase from its previous dividend, representing a 1.1% yield.
• Analysts have a consensus rating of "Moderate Buy" for Republic Services, with an average price target of $262.17, indicating positive market sentiment.

Invesco Ltd. trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,916,417 shares of the business services provider's stock after selling 1,129 shares during the period. Invesco Ltd. owned approximately 0.61% of Republic Services worth $464,080,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RSG. Vanguard Group Inc. lifted its holdings in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after acquiring an additional 170,548 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after buying an additional 499,237 shares in the last quarter. JPMorgan Chase & Co. grew its position in Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock valued at $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Northern Trust Corp grew its stake in Republic Services by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after purchasing an additional 280,542 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after buying an additional 2,220,487 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 0.0%

NYSE:RSG traded down $0.10 on Thursday, hitting $232.64. The stock had a trading volume of 1,097,828 shares, compared to its average volume of 1,304,925. The business's fifty day moving average is $242.43 and its 200 day moving average is $239.58. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. 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 company has a market cap of $72.64 billion, a PE ratio of 34.41, a P/E/G ratio of 3.64 and a beta of 0.60.

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

Republic Services Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on RSG shares. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Raymond James Financial lifted their price target on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets upped their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Nine investment 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

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.