Fmr LLC Sells 179,998 Shares of Republic Services, Inc. (NYSE:RSG)

FMR LLC reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,659,574 shares of the business services provider's stock after selling 179,998 shares during the period. FMR LLC owned approximately 0.53% of Republic Services worth $333,873,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RSG. Mirae Asset Global Investments Co. Ltd. raised its position 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. DnB Asset Management AS raised its holdings in shares of Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after purchasing an additional 28,764 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Republic Services in the fourth quarter worth $4,430,000. Czech National Bank boosted its holdings in Republic Services by 6.1% during the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after purchasing an additional 2,548 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new stake in Republic Services in the 4th quarter valued at $790,000. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the company'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 completion of the sale, the chief operating officer now 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 legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Remove Ads

Republic Services Price Performance

Shares of NYSE RSG traded up $0.74 during trading hours on Wednesday, hitting $245.74. 154,700 shares of the stock were exchanged, compared to its average volume of 1,208,966. Republic Services, Inc. has a 1-year low of $180.91 and a 1-year high of $249.73. The company's fifty day simple moving average is $234.21 and its two-hundred day simple moving average is $217.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a market cap of $76.74 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

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, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.41 EPS. On average, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.94%. Republic Services's payout ratio is 35.75%.

Analyst Upgrades and Downgrades

RSG has been the subject of several analyst reports. Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. William Blair reiterated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $239.13.

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.