Republic Services, Inc. (NYSE:RSG) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,201 shares of the business services provider's stock after selling 138,805 shares during the quarter. Republic Services comprises 1.8% of Magellan Asset Management Ltd's investment portfolio, making the stock its 26th biggest position. Magellan Asset Management Ltd owned about 0.26% of Republic Services worth $161,387,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RSG. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.8% during 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 during the period. Pictet Asset Management Holding SA grew its position in Republic Services by 3.6% during 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 purchasing an additional 218,729 shares during the last quarter. Wellington Management Group LLP raised its position in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock worth $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after acquiring an additional 57,616 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Republic Services by 19.4% during 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 purchasing an additional 509,116 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group increased their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average target price of $236.88.

Republic Services Trading Up 0.6 %

Shares of NYSE RSG traded up $1.46 during midday trading on Tuesday, hitting $232.39. The company's stock had a trading volume of 947,904 shares, compared to its average volume of 1,106,240. The business's 50 day moving average is $231.01 and its two-hundred day moving average is $215.46. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. 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 cap of $72.57 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period last year, the company earned $1.41 earnings per share. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's payout ratio is 35.75%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Republic Services 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.