7,792 Shares in Republic Services, Inc. (NYSE:RSG) Purchased by Algebris UK Ltd

Algebris UK Ltd acquired a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,792 shares of the business services provider's stock, valued at approximately $1,514,000. Republic Services makes up 0.4% of Algebris UK Ltd's portfolio, making the stock its 28th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at about $25,000. Arcadia Investment Management Corp MI grew its position in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd bought a new position in Republic Services in the 4th quarter worth about $32,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter worth approximately $34,000. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter worth approximately $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Republic Services from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Argus set a $260.00 target price on shares of Republic Services in a research note on Tuesday, February 18th. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and increased their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $236.88.

Remove Ads

Republic Services Stock Down 0.8 %

Republic Services stock traded down $1.91 during trading hours on Friday, hitting $232.95. The company had a trading volume of 1,625,553 shares, compared to its average volume of 1,010,427. 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 fifty-two week low of $180.92 and a fifty-two week high of $240.95. The firm's fifty day moving average is $224.90 and its 200-day moving average is $212.70. The firm has a market capitalization of $72.75 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the prior year, the firm earned $1.41 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is 35.75%.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

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.