Massachusetts Financial Services Co. MA Has $38.73 Million Position in Republic Services, Inc. (NYSE:RSG)

Massachusetts Financial Services Co. MA cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,532 shares of the business services provider's stock after selling 82,933 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of Republic Services worth $38,734,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RSG. Arcadia Investment Management Corp MI lifted its holdings in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd bought a new position in Republic Services during the fourth quarter worth $32,000. New Age Alpha Advisors LLC increased its stake in Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services during the fourth quarter worth $45,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Republic Services in the 4th quarter worth about $48,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RSG shares. William Blair reissued an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Scotiabank upped their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price target on Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus target price of $238.50.

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Republic Services Stock Down 1.6 %

Shares of RSG stock traded down $3.77 on Thursday, reaching $235.49. 435,449 shares of the company's stock traded hands, compared to its average volume of 1,114,644. The business's 50 day moving average price is $232.38 and its two-hundred day moving average price is $216.14. The company has a market capitalization of $73.54 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73.

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

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.99%. Republic Services's payout ratio is 35.75%.

Insiders Place Their Bets

In related 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 transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.09% of the company's stock.

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.