Republic Services, Inc. (NYSE:RSG) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,154 shares of the business services provider's stock after selling 1,355 shares during the quarter. Pinebridge Investments L.P.'s holdings in Republic Services were worth $4,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Norges Bank acquired a new position in Republic Services in the 4th quarter worth approximately $553,039,000. Raymond James Financial Inc. acquired a new position in Republic Services in the 4th quarter worth approximately $184,827,000. Nordea Investment Management AB increased its holdings in Republic Services by 19.4% in 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 buying an additional 509,116 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after buying an additional 499,237 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in shares of Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after purchasing an additional 218,729 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Trading Up 1.1 %

Shares of NYSE RSG traded up $2.73 during trading on Monday, hitting $246.29. 1,480,305 shares of the company were exchanged, compared to its average volume of 1,117,671. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. 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 fifty day moving average price of $237.20 and a 200-day moving average price of $219.97. The firm has a market capitalization of $76.96 billion, a PE ratio of 37.95, a P/E/G 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, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.94%. Republic Services's dividend payout ratio (DPR) is currently 34.99%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RSG. Scotiabank lifted their price target 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. The Goldman Sachs Group lifted their price target 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. Royal Bank of Canada reissued an "outperform" rating on shares of Republic Services in a research note on Friday. Argus set a $260.00 price target on shares of Republic Services in a research note on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price target on shares of Republic Services from $260.00 to $268.00 and gave the company an "outperform" rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.38.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by 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.