Gabelli Funds LLC Decreases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Gabelli Funds LLC cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 633,197 shares of the business services provider's stock after selling 17,860 shares during the period. Republic Services accounts for about 1.0% of Gabelli Funds LLC's holdings, making the stock its 15th biggest position. Gabelli Funds LLC owned 0.20% of Republic Services worth $127,387,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RSG. Vanguard Group Inc. lifted its stake in shares of Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock valued at $3,740,083,000 after purchasing an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after buying an additional 218,729 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock worth $918,045,000 after buying an additional 57,616 shares during the last quarter. Nordea Investment Management AB increased its holdings in 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 valued at $626,553,000 after buying an additional 509,116 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services in the 4th quarter worth about $553,039,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business'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 sale, the chief operating officer now 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 SEC, which is available through this link. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Jefferies Financial Group upped their price objective 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. UBS Group increased their price target on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. The Goldman Sachs Group boosted their price objective on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Raymond James restated an "outperform" rating on shares of Republic Services in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $239.13.

Republic Services Trading Down 0.2 %

RSG stock traded down $0.51 during midday trading on Friday, hitting $243.11. The stock had a trading volume of 837,780 shares, compared to its average volume of 1,116,459. The firm has a market cap of $75.92 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. 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 business has a fifty day moving average price of $235.09 and a two-hundred day moving average price of $217.77. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, April 2nd. 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.