Franklin Resources Inc. Sells 164,124 Shares of Republic Services, Inc. (NYSE:RSG)

Franklin Resources Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,884,430 shares of the business services provider's stock after selling 164,124 shares during the quarter. Franklin Resources Inc. owned approximately 0.60% of Republic Services worth $379,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FSA Wealth Management LLC bought a new position in Republic Services during the third quarter valued at about $25,000. Arcadia Investment Management Corp MI increased its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd bought a new position in shares of Republic Services in the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC lifted its holdings in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in Republic Services during the fourth quarter worth approximately $45,000. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company's stock.

Republic Services Price Performance

Shares of RSG stock traded down $13.15 during mid-day trading on Friday, reaching $235.29. The company's stock had a trading volume of 3,157,638 shares, compared to its average volume of 1,101,438. 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 firm's 50-day moving average is $230.70 and its two-hundred day moving average is $215.14. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73. The company has a market cap of $73.48 billion, a P/E ratio of 36.25, a PEG 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, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.41 earnings per share. On average, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Finally, BMO Capital Markets raised Republic Services from a "market perform" rating to an "outperform" rating and raised their target price for the company from $211.00 to $238.00 in a report on Friday, December 6th. Five research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.88.

Republic Services Company 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.