Arrowstreet Capital Limited Partnership Sells 241,970 Shares of Republic Services, Inc. (NYSE:RSG)

Arrowstreet Capital Limited Partnership cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 381,874 shares of the business services provider's stock after selling 241,970 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.12% of Republic Services worth $76,825,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock valued at $3,586,000 after buying an additional 4,827 shares during the period. TCW Group Inc. lifted its stake in Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock worth $23,013,000 after purchasing an additional 13,138 shares in the last quarter. DnB Asset Management AS boosted its holdings in Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after purchasing an additional 28,764 shares during the period. Avanza Fonder AB purchased a new position in shares of Republic Services during the 4th quarter valued at $4,430,000. Finally, Czech National Bank raised its position in shares of Republic Services by 6.1% in the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after buying an additional 2,548 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Down 5.3 %

Shares of RSG traded down $13.15 on Friday, reaching $235.29. The stock had a trading volume of 3,157,638 shares, compared to its average volume of 1,101,438. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The firm has a market capitalization of $73.48 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The company has a 50-day simple moving average of $230.70 and a 200-day simple moving average of $215.14.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for 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%. During the same quarter in the previous year, the business posted $1.41 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. Republic Services's dividend payout ratio is currently 35.75%.

Insider Activity

In other Republic Services 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 sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research analyst reports. Truist Financial restated a "buy" rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target for the company in a research note on Tuesday, March 4th. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft raised 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. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $236.88.

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.