Van ECK Associates Corp Has $8.49 Million Position in Republic Services, Inc. (NYSE:RSG)

Van ECK Associates Corp raised its stake in Republic Services, Inc. (NYSE:RSGFree Report) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,567 shares of the business services provider’s stock after purchasing an additional 5,055 shares during the period. Van ECK Associates Corp’s holdings in Republic Services were worth $8,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RSG. D.A. Davidson & CO. acquired a new position in shares of Republic Services in the first quarter valued at $203,000. Synovus Financial Corp increased its holdings in shares of Republic Services by 1.9% in the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock valued at $1,890,000 after purchasing an additional 260 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Republic Services by 34.6% in the first quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 998 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Republic Services by 1.6% in the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after purchasing an additional 495 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Republic Services by 2.9% in the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 187 shares during the last quarter. 57.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RSG has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup upped their price target on shares of Republic Services from $178.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. UBS Group upgraded shares of Republic Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $155.00 to $175.00 in a research note on Monday, October 23rd. Wolfe Research initiated coverage on shares of Republic Services in a research note on Tuesday, October 17th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus upped their price target on shares of Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Six analysts have rated the stock with a hold rating and nine 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 price target of $169.33.

View Our Latest Analysis on Republic Services

Republic Services Trading Down 0.7 %

Shares of Republic Services stock opened at $173.49 on Friday. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.91 and a beta of 0.67. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.06. Republic Services, Inc. has a 12-month low of $124.27 and a 12-month high of $175.35. The firm’s 50-day moving average price is $166.41 and its two-hundred day moving average price is $155.49.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be issued a $0.535 dividend. The ex-dividend date is Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.23%. Republic Services’s dividend payout ratio (DPR) is currently 41.39%.

Republic Services declared that its board has approved a share repurchase program on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

About Republic Services

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.

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

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