Alliancebernstein L.P. Sells 23,139 Shares of Republic Services, Inc. (NYSE:RSG)

Alliancebernstein L.P. lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,981 shares of the business services provider's stock after selling 23,139 shares during the period. Alliancebernstein L.P. owned about 0.18% of Republic Services worth $114,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its position in shares of Republic Services by 27.5% in the fourth quarter. Schroder Investment Management Group now owns 392,730 shares of the business services provider's stock valued at $79,013,000 after acquiring an additional 84,752 shares during the last quarter. Allianz SE acquired a new position in shares of Republic Services during the 4th quarter worth approximately $602,000. Intrust Bank NA raised its stake in shares of Republic Services by 2.3% during the 4th quarter. Intrust Bank NA now owns 9,508 shares of the business services provider's stock worth $1,913,000 after purchasing an additional 211 shares in the last quarter. Allstate Corp acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $1,331,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Republic Services by 9.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,719 shares of the business services provider's stock valued at $1,151,000 after buying an additional 486 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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Republic Services Price Performance

Shares of RSG stock traded down $4.43 during trading on Monday, hitting $230.99. The company had a trading volume of 2,407,377 shares, compared to its average volume of 1,106,641. The firm has a market capitalization of $72.14 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock's 50-day moving average price is $231.01 and its 200 day moving average price is $215.46.

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

Republic Services Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on RSG. Stifel Nicolaus increased their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a "hold" rating to a "buy" rating and lifted their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.88.

Insider Activity at Republic Services

In other 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 transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Republic Services Company 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.