Scotia Capital Inc. Acquires 9,521 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Scotia Capital Inc. increased its holdings in Republic Services by 221.9%, acquiring an additional 9,521 shares, bringing its total to 13,811 shares valued at approximately $3.34 million.
• Republic Services has announced a quarterly dividend of $0.625 to be paid on October 15th, representing an increase from the previous dividend of $0.58, with an annualized yield of 1.1%.
• Following its recent quarterly earnings report, Republic Services exceeded EPS estimates with $1.77 and reported a 4.6% year-over-year revenue increase to $4.24 billion.

Scotia Capital Inc. increased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 221.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,811 shares of the business services provider's stock after buying an additional 9,521 shares during the period. Scotia Capital Inc.'s holdings in Republic Services were worth $3,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cheviot Value Management LLC bought a new stake in shares of Republic Services during the 1st quarter valued at $49,000. LGT Capital Partners LTD. bought a new stake in Republic Services in the first quarter valued at about $14,263,000. J. Safra Sarasin Holding AG lifted its stake in Republic Services by 96.7% in the first quarter. J. Safra Sarasin Holding AG now owns 272,340 shares of the business services provider's stock valued at $65,950,000 after buying an additional 133,914 shares during the period. Banco Santander S.A. bought a new position in Republic Services during the first quarter worth about $225,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Republic Services by 4.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 50,272 shares of the business services provider's stock valued at $12,174,000 after acquiring an additional 2,079 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 0.2%

NYSE RSG opened at $231.60 on Tuesday. The company has a market cap of $72.31 billion, a PE ratio of 34.26, a PEG ratio of 3.61 and a beta of 0.60. Republic Services, Inc. has a 12 month low of $193.75 and a 12 month high of $258.75. The stock has a 50 day moving average of $245.40 and a 200-day moving average of $238.90. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change 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 payout ratio is 36.98%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Seaport Res Ptn raised shares of 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 report on Friday, April 25th. Robert W. Baird lifted their target price on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. UBS Group increased their price target on Republic Services from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Melius assumed coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. Ten 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

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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