CIBC Asset Management Inc raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 33,761 shares of the business services provider’s stock after buying an additional 31 shares during the period. CIBC Asset Management Inc’s holdings in Republic Services were worth $2,152,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of RSG. Cribstone Capital Management LLC acquired a new stake in shares of Republic Services during the first quarter valued at approximately $121,000. Whittier Trust Co. of Nevada Inc. increased its position in Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,078 shares during the period. Pinnacle Financial Partners Inc. purchased a new position in Republic Services during the first quarter valued at $203,000. Fox Run Management L.L.C. purchased a new position in Republic Services during the first quarter valued at $204,000. Finally, Pillar Pacific Capital Management LLC purchased a new position in Republic Services during the first quarter valued at $205,000. 61.66% of the stock is currently owned by institutional investors.

Republic Services, Inc. (NYSE RSG) opened at 64.70 on Tuesday. The company’s 50-day moving average price is $64.37 and its 200-day moving average price is $62.33. 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 $21.79 billion, a P/E ratio of 33.21 and a beta of 0.58.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities analysts forecast that Republic Services, Inc. will post $2.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.345 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from Republic Services’s previous quarterly dividend of $0.32. Republic Services’s dividend payout ratio is currently 65.64%.

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RSG has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Republic Services in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Friday, July 14th. Credit Suisse Group set a $63.00 target price on Republic Services and gave the company a “hold” rating in a research report on Sunday, April 30th. Finally, Barclays PLC restated a “hold” rating and issued a $59.00 target price on shares of Republic Services in a research report on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Republic Services has a consensus rating of “Hold” and a consensus price target of $69.78.

About Republic Services

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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