TD Asset Management Inc Acquires 224,867 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• TD Asset Management Inc increased its stake in Republic Services by 12.4% in the first quarter, owning approximately 0.65% of the company worth $494.93 million.
• Republic Services reported an employee income of $1.58 per share, exceeding analysts' expectations of $1.53 per share, during its latest earnings result.
• The company announced a quarterly dividend increase to $0.625, up from the previous $0.58, reflecting a strong commitment to returning value to shareholders.

TD Asset Management Inc lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,043,812 shares of the business services provider's stock after acquiring an additional 224,867 shares during the quarter. TD Asset Management Inc owned about 0.65% of Republic Services worth $494,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% during the 1st 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 in the last quarter. Key Financial Inc increased its stake in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the period. New Age Alpha Advisors LLC increased its stake in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC purchased a new stake in Republic Services during the 4th quarter worth $44,000. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Republic Services in the 1st quarter worth about $76,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 4.6%

Republic Services stock traded down $11.21 during trading hours on Wednesday, hitting $234.81. The company had a trading volume of 1,716,459 shares, compared to its average volume of 1,283,435. The firm's fifty day moving average is $247.06 and its 200-day moving average is $238.10. Republic Services, Inc. has a fifty-two week low of $192.64 and a fifty-two week high of $258.75. The firm has a market capitalization of $73.38 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 3.67 and a beta of 0.61. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate 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 net margin of 12.88% and a return on equity of 18.28%. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current 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. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is currently 34.99%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday. Melius assumed coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price for the company in a research report on Monday, June 9th. Robert W. Baird upped their target price on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given 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 target price of $258.89.

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.