Teacher Retirement System of Texas boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 751,705 shares of the business services provider’s stock after buying an additional 16,723 shares during the period. Teacher Retirement System of Texas’ holdings in Republic Services were worth $47,906,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RSG. Cribstone Capital Management LLC purchased a new stake in Republic Services during the first quarter valued at approximately $121,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 worth $185,000 after buying an additional 1,078 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Republic Services during the first quarter worth about $203,000. Fox Run Management L.L.C. purchased a new stake in shares of Republic Services during the first quarter worth about $204,000. Finally, Pillar Pacific Capital Management LLC purchased a new stake in shares of Republic Services during the first quarter worth about $205,000. 61.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Republic Services, Inc. (NYSE RSG) opened at 64.08 on Friday. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 32.90 and a beta of 0.58. The firm has a 50-day moving average price of $64.36 and a 200-day moving average price of $62.59. Republic Services, Inc. has a 12 month low of $49.18 and a 12 month high of $65.54.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.15%. 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. Republic Services’s dividend payout ratio (DPR) is currently 65.64%.

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