Garner Asset Management Corp Boosts Position in Republic Services, Inc. (NYSE:RSG)

Garner Asset Management Corp raised its position in Republic Services, Inc. (NYSE:RSG) by 2.8% during the second quarter, Holdings Channel.com reports. The firm owned 4,180 shares of the business services provider’s stock after buying an additional 113 shares during the period. Garner Asset Management Corp’s holdings in Republic Services were worth $812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $3,494,714,000 after purchasing an additional 101,518 shares during the period. 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 worth $1,514,100,000 after buying an additional 1,346,588 shares in the last quarter. TD Asset Management Inc boosted its position 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 buying an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Republic Services by 0.3% during the second 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 acquiring an additional 3,809 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after acquiring an additional 182,645 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $199.18 on Thursday. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The firm has a market capitalization of $62.56 billion, a PE ratio of 34.94, a P/E/G ratio of 3.29 and a beta of 0.70. The firm has a 50-day moving average price of $202.21 and a 200 day moving average price of $193.56. 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 (NYSE:RSG) last issued its quarterly earnings results 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 return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed 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. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their price objective on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. TD Cowen raised 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. Stifel Nicolaus upped their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Hold” and an average price target of $211.00.

Insider Transactions at Republic Services

In related 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 directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.