Cerity Partners LLC Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Cerity Partners LLC lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,431 shares of the business services provider's stock after selling 2,788 shares during the quarter. Cerity Partners LLC's holdings in Republic Services were worth $5,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RSG. Mirae Asset Global Investments Co. Ltd. increased its stake in Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock worth $3,586,000 after buying an additional 4,827 shares in the last quarter. DnB Asset Management AS raised its stake in Republic Services by 65.1% during the fourth 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 in the last quarter. Avanza Fonder AB purchased a new stake in shares of Republic Services during the 4th quarter valued at about $4,430,000. Czech National Bank lifted its holdings in shares of Republic Services by 6.1% in the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock valued at $8,879,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Hickory Point Bank & Trust bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $790,000. Institutional investors own 57.73% of the company's stock.

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Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred 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 $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company's stock.

Republic Services Stock Performance

Republic Services stock traded down $0.97 during midday trading on Tuesday, hitting $244.59. 1,154,160 shares of the company were exchanged, compared to its average volume of 1,119,281. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $249.73. The firm has a market capitalization of $76.38 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The business has a fifty day simple moving average of $233.74 and a two-hundred day simple moving average of $217.10. 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 (NYSE:RSG - Get Free Report) last released its quarterly earnings data 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. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business 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. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio is presently 35.75%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group upped their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. UBS Group lifted their target price on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday. Finally, William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $239.13.

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.