Adage Capital Partners GP L.L.C. Has $38.44 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Adage Capital Partners GP L.L.C. lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,056 shares of the business services provider's stock after selling 173,326 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.06% of Republic Services worth $38,437,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI grew its position in shares of Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd acquired a new stake in Republic Services in the fourth quarter worth $32,000. New Age Alpha Advisors LLC lifted its position in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in Republic Services in the 4th quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in Republic Services during the 4th quarter worth $48,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Raymond James restated an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday. Cibc World Mkts raised Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley increased their target price on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $245.38.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Republic Services Stock Performance

NYSE:RSG traded up $3.20 during midday trading on Friday, reaching $243.96. The stock had a trading volume of 1,947,545 shares, compared to its average volume of 1,116,214. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73. The firm's fifty day simple moving average is $236.86 and its 200-day simple moving average is $219.68. The stock has a market capitalization of $76.23 billion, a P/E ratio of 37.59, a PEG ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.55 by $0.03. The firm had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. On average, equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is presently 34.99%.

Republic Services 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.