Republic Services, Inc. (NYSE:RSG) Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 701,184 shares of the business services provider's stock after selling 49,387 shares during the period. Principal Financial Group Inc. owned 0.22% of Republic Services worth $169,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after purchasing an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Republic Services by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after buying an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Republic Services by 10.4% in 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 acquiring an additional 499,237 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after acquiring an additional 57,616 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Republic Services during the fourth quarter valued at $553,039,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 1.5%

Shares of RSG traded up $3.45 during midday trading on Friday, reaching $241.14. 1,261,978 shares of the company were exchanged, compared to its average volume of 1,145,699. Republic Services, Inc. has a 1-year low of $188.82 and a 1-year high of $258.75. The stock has a 50-day moving average price of $249.04 and a 200-day moving average price of $233.07. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The company has a market cap of $75.36 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 3.64 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 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 analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.45 EPS. Republic Services's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird upped their target price on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. BMO Capital Markets reissued an "outperform" rating and set a $280.00 price target (up previously from $268.00) on shares of Republic Services in a research note on Monday, June 9th. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Scotiabank lifted their price target on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.68.

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.