Renasant Bank Sells 1,856 Shares of Republic Services, Inc. (NYSE:RSG)

Renasant Bank trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 44.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,336 shares of the business services provider's stock after selling 1,856 shares during the period. Renasant Bank's holdings in Republic Services were worth $470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Republic Services by 37.5% in the 4th 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 last quarter. TCW Group Inc. increased its stake in Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock valued at $23,013,000 after buying an additional 13,138 shares during the last quarter. Avanza Fonder AB acquired a new stake in Republic Services in the 4th quarter valued at $4,430,000. Hickory Point Bank & Trust acquired a new stake in Republic Services in the 4th quarter valued at $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Republic Services in the 3rd quarter valued at $6,102,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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Republic Services Price Performance

Shares of NYSE:RSG traded down $1.90 during midday trading on Tuesday, hitting $233.86. The stock had a trading volume of 946,122 shares, compared to its average volume of 1,015,508. The company's 50-day moving average price is $222.65 and its 200-day moving average price is $211.95. The company 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 quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations 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 previous year, the company earned $1.41 EPS. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business 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. This represents a $2.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio is 35.75%.

Analysts Set New Price Targets

A number of research analysts have recently commented on RSG shares. Jefferies Financial Group lifted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. BMO Capital Markets raised shares of Republic Services from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.88.

About Republic Services

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.