Resona Asset Management Co. Ltd. Purchases 4,726 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Republic Services, Inc. by 4.5% during the first quarter, owning 108,842 shares worth approximately $26.32 million by the end of the reporting period.
• The company recently announced a quarterly dividend of $0.625 per share, an increase from the previous $0.58, with a dividend yield of 1.1%.
• Analysts have varied opinions on Republic Services, with price targets ranging from $230.00 to $278.00 and a consensus rating of "Moderate Buy".

Resona Asset Management Co. Ltd. grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 108,842 shares of the business services provider's stock after purchasing an additional 4,726 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Republic Services were worth $26,320,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the period. Key Financial Inc lifted its stake in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares during the period. TCTC Holdings LLC lifted its stake in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Republic Services during the fourth quarter valued at $44,000. Finally, Cheviot Value Management LLC acquired a new position in shares of Republic Services during the first quarter valued at $49,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 0.0%

Shares of NYSE RSG traded down $0.10 during mid-day trading on Thursday, reaching $232.64. 1,097,831 shares of the company's stock were exchanged, compared to its average volume of 1,444,512. The firm has a market capitalization of $72.64 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.63 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $242.03 and a 200 day simple moving average of $239.70. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results 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 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%. Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. As a group, equities 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 issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's dividend payout ratio is 34.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research note on Monday, June 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 price target on shares of Republic Services in a research note on Friday, April 25th. Scotiabank increased their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. BMO Capital Markets increased their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $262.17.

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.