Clearbridge Investments LLC Has $48.65 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Clearbridge Investments LLC lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 241,797 shares of the business services provider's stock after selling 25,659 shares during the period. Clearbridge Investments LLC owned 0.08% of Republic Services worth $48,645,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RSG. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 in the last quarter. TCW Group Inc. increased its holdings in shares of Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock valued at $23,013,000 after acquiring an additional 13,138 shares during the last quarter. DnB Asset Management AS raised its position in shares of Republic Services by 65.1% during 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 acquiring an additional 28,764 shares in the last quarter. Avanza Fonder AB bought a new position in Republic Services during the fourth quarter worth $4,430,000. Finally, Czech National Bank boosted its holdings in 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 purchasing an additional 2,548 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Remove Ads

Republic Services Stock Performance

RSG traded down $13.15 on Friday, hitting $235.29. 3,157,638 shares of the stock traded hands, compared to its average volume of 1,101,438. The business has a fifty day moving average price of $230.70 and a two-hundred day moving average price of $215.25. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $73.48 billion, a PE ratio of 36.25, a P/E/G ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $249.73.

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 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business earned $1.41 EPS. On average, research analysts predict 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. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.99%. Republic Services's dividend payout ratio (DPR) is presently 35.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Jefferies Financial Group raised their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. The Goldman Sachs Group raised 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. Finally, CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at $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 available through the SEC website. Insiders own 0.09% of the company's stock.

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.