Assetmark Inc. Boosts Position in Republic Services, Inc. (NYSE:RSG)

Assetmark Inc. raised its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 131.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,410 shares of the business services provider's stock after acquiring an additional 24,091 shares during the period. Assetmark Inc.'s holdings in Republic Services were worth $8,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RSG. Stifel Financial Corp boosted its stake in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock valued at $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock worth $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock worth $109,580,000 after buying an additional 460,989 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Republic Services by 169.3% in the third quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider's stock worth $111,366,000 after buying an additional 348,600 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RSG. Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. UBS Group lifted their target price on shares of Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average target price of $236.88.

Republic Services Stock Up 1.2 %

NYSE RSG traded up $2.79 on Friday, hitting $234.28. 972,254 shares of the stock were exchanged, compared to its average volume of 1,052,239. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The company has a market cap of $73.16 billion, a PE ratio of 36.10, a PEG ratio of 3.64 and a beta of 0.73. The company has a 50-day moving average price of $218.91 and a 200-day moving average price of $210.84.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the prior year, the business posted $1.41 EPS. Sell-side analysts anticipate 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, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.99%. Republic Services's payout ratio is currently 35.75%.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction on 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 owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is 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.