LPL Financial LLC Buys 97,391 Shares of Republic Services, Inc. (NYSE:RSG)

LPL Financial LLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 27.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,739 shares of the business services provider’s stock after buying an additional 97,391 shares during the quarter. LPL Financial LLC owned 0.15% of Republic Services worth $110,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 valued at $1,069,836,000 after purchasing an additional 499,237 shares during the last quarter. Geode Capital Management LLC increased its stake in Republic Services by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock valued at $918,045,000 after buying an additional 57,616 shares during the last quarter. Northern Trust Corp lifted its position in shares of Republic Services by 13.1% during the 4th quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider’s stock worth $488,106,000 after buying an additional 280,542 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock worth $539,091,000 after buying an additional 2,220,487 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after acquiring an additional 224,867 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the topic of several research analyst reports. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Seaport Res Ptn upgraded shares of Republic Services to a “strong-buy” rating in a research report on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. BMO Capital Markets reissued an “outperform” rating and set a $280.00 target price (up from $268.00) on shares of Republic Services in a research report on Monday, June 9th. Finally, Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Ten equities research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.16.

Republic Services Price Performance

Shares of NYSE:RSG opened at $245.80 on Wednesday. The company has a 50 day moving average of $247.06 and a 200 day moving average of $238.10. 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 stock has a market cap of $76.81 billion, a P/E ratio of 37.07, a P/E/G ratio of 3.67 and a beta of 0.61. Republic Services, Inc. has a 12 month low of $192.11 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.02. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business earned $1.61 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio (DPR) is 34.99%.

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.