Martingale Asset Management L P Sells 7,627 Shares of Republic Services, Inc. (NYSE:RSG)

Martingale Asset Management L P reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,365 shares of the business services provider's stock after selling 7,627 shares during the period. Republic Services accounts for about 0.7% of Martingale Asset Management L P's holdings, making the stock its 29th biggest position. Martingale Asset Management L P's holdings in Republic Services were worth $30,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 during the period. TCW Group Inc. increased its position in Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock worth $23,013,000 after purchasing an additional 13,138 shares in the last quarter. DnB Asset Management AS grew its stake in Republic Services by 65.1% during the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after buying an additional 28,764 shares during the period. Avanza Fonder AB acquired a new stake in Republic Services in the 4th quarter valued at $4,430,000. Finally, Czech National Bank lifted its position in Republic Services by 6.1% during the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after acquiring an additional 2,548 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

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Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Up 0.6 %

Shares of NYSE:RSG traded up $1.39 during trading on Monday, reaching $245.31. 177,816 shares of the company traded hands, compared to its average volume of 1,116,250. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $76.61 billion, a P/E ratio of 37.80, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The firm has a fifty day simple moving average of $233.24 and a 200 day simple moving average of $216.78.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the company earned $1.41 earnings per share. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio is 35.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RSG. Stifel Nicolaus raised their target price on Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.13.

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.