Parnassus Investments LLC Sells 37,216 Shares of Republic Services, Inc. (NYSE:RSG)

Parnassus Investments LLC lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,341 shares of the business services provider's stock after selling 37,216 shares during the quarter. Parnassus Investments LLC owned approximately 0.14% of Republic Services worth $86,576,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new position in shares of Republic Services in the third quarter valued at about $25,000. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $32,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Republic Services during the third quarter worth about $39,000. Institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

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Republic Services Trading Down 0.8 %

Shares of RSG traded down $1.90 during trading hours on Tuesday, hitting $233.86. 946,122 shares of the stock were exchanged, compared to its average volume of 1,015,508. The firm has a market capitalization of $73.03 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The business has a 50-day moving average of $222.65 and a 200-day moving average of $211.95.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.41 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on RSG. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Stifel Nicolaus raised their target price on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a "hold" rating to a "buy" rating and increased their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.88.

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.