Geode Capital Management LLC Raises Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Geode Capital Management LLC raised its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,507,521 shares of the business services provider's stock after purchasing an additional 73,207 shares during the quarter. Geode Capital Management LLC owned 1.44% of Republic Services worth $903,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in shares of Republic Services in the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC grew its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after purchasing an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in Republic Services in the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in Republic Services during the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Republic Services during the 2nd quarter worth approximately $36,000. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Republic Services Stock Performance

Republic Services stock traded down $0.10 during trading on Thursday, hitting $210.25. The stock had a trading volume of 501,345 shares, compared to its average volume of 1,109,870. The stock's 50 day moving average is $208.20 and its two-hundred day moving average is $201.50. Republic Services, Inc. has a 1 year low of $160.65 and a 1 year high of $220.58. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is currently 37.12%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RSG. Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Republic Services from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $219.00 to $237.00 in a research note on Tuesday. Scotiabank started coverage on shares of Republic Services in a report on Friday, October 4th. They set a "sector perform" rating and a $224.00 price target for the company. CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an "equal weight" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $220.06.

About Republic Services

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.