Republic Services, Inc. (NYSE:RSG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700,160 shares of the business services provider's stock after selling 49,564 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Republic Services worth $140,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RSG. Vanguard Group Inc. lifted its stake in Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock valued at $3,740,083,000 after buying an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Republic Services by 3.6% during 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 acquiring an additional 218,729 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after acquiring an additional 57,616 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Finally, Norges Bank acquired a new position in Republic Services in the 4th quarter valued at $553,039,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday. Scotiabank upped their price objective on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Morgan Stanley raised their target price on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, February 14th. Finally, Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Five 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $239.13.

Republic Services Trading Up 1.6 %

RSG stock traded up $3.86 during mid-day trading on Friday, hitting $244.09. 1,569,337 shares of the company were exchanged, compared to its average volume of 1,119,960. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The firm has a market capitalization of $76.22 billion, a P/E ratio of 37.61, a PEG ratio of 3.64 and a beta of 0.62. The business has a fifty day simple moving average of $233.24 and a 200-day simple moving average of $216.78. 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 (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.21. The firm 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 quarter last year, the company posted $1.41 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the 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 sale, the chief operating officer now owns 10,416 shares of the company's stock, 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 can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate 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.