Raymond James & Associates Has $155.19 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Raymond James & Associates lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,718 shares of the business services provider’s stock after acquiring an additional 23,270 shares during the quarter. Raymond James & Associates owned approximately 0.25% of Republic Services worth $155,193,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Republic Services during the 1st quarter valued at $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services during the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RSG. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their target price on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Raymond James cut their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Robert W. Baird lifted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $211.65.

Republic Services Stock Performance

Shares of Republic Services stock opened at $204.80 on Friday. Republic Services, Inc. has a one year low of $142.65 and a one year high of $208.69. The firm has a market capitalization of $64.50 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.30 and a beta of 0.69. The business has a 50-day simple moving average of $203.92 and a 200 day simple moving average of $195.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, research analysts anticipate 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 was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.58 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is 40.70%.

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.