Invesco Ltd. Purchases 408,885 Shares of Republic Services, Inc. $RSG

Invesco Ltd. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 21.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,325,302 shares of the business services provider’s stock after purchasing an additional 408,885 shares during the period. Invesco Ltd. owned about 0.74% of Republic Services worth $573,443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Ignite Planners LLC increased its stake in Republic Services by 2.8% in the second quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 43 shares during the period. Gries Financial LLC lifted its position in shares of Republic Services by 3.8% during the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock worth $308,000 after buying an additional 46 shares during the period. TD Private Client Wealth LLC boosted its stake in Republic Services by 17.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after buying an additional 46 shares in the last quarter. Empirical Finance LLC raised its stake in Republic Services by 0.7% during the second quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock worth $1,783,000 after acquiring an additional 47 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Republic Services by 2.1% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.1%

NYSE:RSG opened at $215.24 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $199.43 and a 12-month high of $258.75. The stock’s fifty day simple moving average is $216.89 and its 200-day simple moving average is $232.11. The firm has a market capitalization of $66.63 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.45 and a beta of 0.54.

Republic Services (NYSE:RSG) last released its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s payout ratio is 37.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RSG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Republic Services in a report on Monday. UBS Group dropped their price objective on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Sanford C. Bernstein initiated coverage on Republic Services in a report on Wednesday, November 12th. They issued a “market perform” rating and a $205.00 target price on the stock. Wells Fargo & Company began coverage on Republic Services in a report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price target for the company. Finally, Scotiabank lowered their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.45.

Republic Services Company 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.