Jennison Associates LLC Trims Position in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 198,832 shares of the business services provider's stock after selling 4,969 shares during the quarter. Jennison Associates LLC owned approximately 0.06% of Republic Services worth $39,933,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in Republic Services by 15.2% in the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider's stock valued at $1,137,000 after acquiring an additional 746 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider's stock valued at $4,312,000 after purchasing an additional 19,698 shares during the last quarter. PGGM Investments raised its stake in Republic Services by 264.3% during the second quarter. PGGM Investments now owns 8,842 shares of the business services provider's stock worth $1,718,000 after buying an additional 6,415 shares during the last quarter. YCG LLC lifted its holdings in Republic Services by 2.2% in the third quarter. YCG LLC now owns 208,232 shares of the business services provider's stock valued at $41,821,000 after buying an additional 4,428 shares during the period. Finally, AXA S.A. grew its holdings in Republic Services by 1.8% during the 2nd quarter. AXA S.A. now owns 640,563 shares of the business services provider's stock worth $124,487,000 after acquiring an additional 11,408 shares during the period. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RSG shares. Oppenheimer boosted their price objective on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price target on Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Raymond James reduced their price target on shares of Republic Services from $219.00 to $214.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $215.71.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Republic Services Price Performance

NYSE:RSG traded up $2.01 during midday trading on Friday, hitting $216.07. The company had a trading volume of 333,544 shares, compared to its average volume of 1,116,650. The stock's fifty day moving average price is $204.34 and its 200-day moving average price is $198.65. Republic Services, Inc. has a 52-week low of $159.10 and a 52-week high of $216.38. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $67.66 billion, a PE ratio of 34.25, a P/E/G ratio of 3.22 and a beta of 0.70.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio is currently 37.12%.

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.