Canada Pension Plan Investment Board boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 603.1% during the second quarter, Holdings Channel reports. The fund owned 440,900 shares of the business services provider’s stock after buying an additional 378,190 shares during the period. Canada Pension Plan Investment Board’s holdings in Republic Services were worth $28,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OLD Dominion Capital Management Inc. increased its position in shares of Republic Services by 0.3% in the first quarter. OLD Dominion Capital Management Inc. now owns 24,758 shares of the business services provider’s stock valued at $1,555,000 after buying an additional 83 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Republic Services by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,347 shares of the business services provider’s stock valued at $373,000 after buying an additional 177 shares during the last quarter. James Investment Research Inc. increased its position in shares of Republic Services by 2.5% in the first quarter. James Investment Research Inc. now owns 74,053 shares of the business services provider’s stock valued at $4,652,000 after buying an additional 1,840 shares during the last quarter. Navellier & Associates Inc increased its position in shares of Republic Services by 77.8% in the first quarter. Navellier & Associates Inc now owns 163,832 shares of the business services provider’s stock valued at $10,290,000 after buying an additional 71,684 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Republic Services by 0.8% in the first quarter. Retirement Systems of Alabama now owns 234,954 shares of the business services provider’s stock valued at $14,757,000 after buying an additional 1,903 shares during the last quarter. 61.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Republic Services, Inc. (NYSE:RSG) opened at 63.98 on Friday. Republic Services, Inc. has a 12-month low of $49.18 and a 12-month high of $65.54. The stock has a market cap of $21.55 billion, a PE ratio of 32.84 and a beta of 0.58. The firm has a 50-day moving average price of $64.37 and a 200 day moving average price of $62.64.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. Equities research analysts predict that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.16%. Republic Services’s dividend payout ratio (DPR) is 65.64%.

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Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, June 16th. Stifel Nicolaus reissued a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research note on Wednesday, July 19th. BMO Capital Markets boosted their target price on shares of Republic Services from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Barclays PLC reissued a “neutral” rating on shares of Republic Services in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $69.00 target price on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.78.

Republic Services Company Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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