CIBC Private Wealth Group LLC Has $18.41 Million Position in Republic Services, Inc. (NYSE:RSG)

CIBC Private Wealth Group LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,939 shares of the business services provider's stock after selling 2,064 shares during the period. CIBC Private Wealth Group LLC's holdings in Republic Services were worth $18,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RSG. Schroder Investment Management Group grew its stake in 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 purchasing an additional 84,752 shares in the last quarter. Allianz SE bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $602,000. Intrust Bank NA increased its holdings in Republic Services by 2.3% in the fourth quarter. Intrust Bank NA now owns 9,508 shares of the business services provider's stock worth $1,913,000 after buying an additional 211 shares during the last quarter. Allstate Corp bought a new position in Republic Services during the fourth quarter valued at approximately $1,331,000. Finally, Brown Brothers Harriman & Co. lifted its stake in 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 acquiring an additional 486 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services 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 sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RSG. Stifel Nicolaus raised their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Finally, Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $236.88.

Republic Services Stock Performance

NYSE RSG traded down $13.15 during midday trading on Friday, hitting $235.29. The company had a trading volume of 3,157,638 shares, compared to its average volume of 1,101,438. The firm has a fifty day simple moving average of $230.70 and a two-hundred day simple moving average of $215.14. The stock has a market cap of $73.48 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 3.64 and a beta of 0.62. 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 $180.92 and a fifty-two week high of $249.73.

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 (EPS) for the quarter, beating 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 firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.41 earnings per share. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

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.