Marshall Wace LLP Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Marshall Wace LLP increased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 225.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,624 shares of the business services provider's stock after acquiring an additional 54,490 shares during the period. Marshall Wace LLP's holdings in Republic Services were worth $15,818,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Republic Services in the 4th quarter valued at $553,039,000. Raymond James Financial Inc. bought a new stake in Republic Services in the fourth quarter worth about $184,827,000. Nordea Investment Management AB increased its stake in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Republic Services by 3.6% in the fourth 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. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Republic Services in the fourth quarter worth $38,098,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 1.3 %

NYSE RSG traded up $3.20 on Friday, hitting $243.96. The stock had a trading volume of 1,910,734 shares, compared to its average volume of 1,120,129. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market cap of $76.19 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The business's fifty day moving average price is $236.55 and its 200 day moving average price is $219.17. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $249.73.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.03. The business had revenue of $4.01 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%. Equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on RSG shares. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group raised 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. Scotiabank boosted their price objective on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird increased their target price on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a report on Friday. Five investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.38.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

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.