Republic Services, Inc. (NYSE:RSG) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 7.8% during the second quarter, Holdings Channel.com reports. The fund owned 285,735 shares of the business services provider’s stock after acquiring an additional 20,605 shares during the period. LPL Financial LLC’s holdings in Republic Services were worth $55,530,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after purchasing an additional 101,518 shares in the last quarter. Capital World Investors lifted its holdings in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. Norges Bank purchased a new position in Republic Services in the 4th quarter valued at about $358,837,000. TD Asset Management Inc lifted its holdings in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. CIBC upped their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Raymond James cut their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $211.00.

Republic Services Stock Up 0.3 %

Shares of NYSE:RSG opened at $205.79 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The company has a 50 day moving average of $201.84 and a two-hundred day moving average of $193.18. The company has a market capitalization of $64.63 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. As a group, analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

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.