Northwest & Ethical Investments L.P. Sells 23,837 Shares of Republic Services, Inc. (NYSE:RSG)

Northwest & Ethical Investments L.P. trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,925 shares of the business services provider's stock after selling 23,837 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Republic Services were worth $21,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Republic Services during the third quarter valued at $25,000. Arcadia Investment Management Corp MI increased its holdings in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after purchasing an additional 88 shares during the period. R Squared Ltd acquired a new stake in shares of Republic Services during the fourth quarter worth approximately $32,000. Truvestments Capital LLC purchased a new position in Republic Services during the third quarter valued at approximately $34,000. Finally, Generali Asset Management SPA SGR purchased a new stake in Republic Services in the 4th quarter worth approximately $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research reports. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target on the stock in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price target on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley increased their price objective on Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. William Blair reiterated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Finally, UBS Group raised their price target on shares of Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Five 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $236.88.

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Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction 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 sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of RSG stock traded up $2.82 during trading hours on Monday, reaching $236.16. 2,079,302 shares of the company's stock were exchanged, compared to its average volume of 1,015,201. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $73.75 billion, a P/E ratio of 36.39, a P/E/G ratio of 3.64 and a beta of 0.73. The business has a fifty day moving average price of $225.49 and a 200-day moving average price of $212.92.

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 company had revenue of $4.05 billion for 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 period last year, the business posted $1.41 EPS. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is presently 35.75%.

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.