Bessemer Group Inc. Acquires 1,770 Shares of Republic Services, Inc. (NYSE:RSG)

Bessemer Group Inc. lifted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,094 shares of the business services provider's stock after buying an additional 1,770 shares during the period. Bessemer Group Inc.'s holdings in Republic Services were worth $5,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. APG Asset Management N.V. grew its stake in shares of Republic Services by 31.6% during the 4th quarter. APG Asset Management N.V. now owns 309,423 shares of the business services provider's stock valued at $60,116,000 after purchasing an additional 74,248 shares during the period. Capula Management Ltd bought a new stake in Republic Services during the fourth quarter valued at approximately $255,000. Peachtree Investment Partners LLC increased its holdings in Republic Services by 26.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 1,773 shares of the business services provider's stock valued at $357,000 after buying an additional 370 shares during the last quarter. Bank of Nova Scotia raised its position in Republic Services by 53.8% in the fourth quarter. Bank of Nova Scotia now owns 368,989 shares of the business services provider's stock worth $74,277,000 after acquiring an additional 129,117 shares during the period. Finally, FIL Ltd purchased a new position in shares of Republic Services during the 4th quarter worth $13,654,000. Institutional investors own 57.73% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RSG shares. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Scotiabank boosted their price objective on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Argus set a $260.00 price target on shares of Republic Services in a research report on Tuesday, February 18th. Finally, UBS Group lifted their target price on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday. Five investment 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 company's stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $239.13.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Republic Services Price Performance

NYSE RSG traded down $0.97 during trading on Tuesday, hitting $244.59. 1,154,160 shares of the stock traded hands, compared to its average volume of 1,119,908. The company has a market capitalization of $76.38 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The firm has a 50-day simple moving average of $233.74 and a 200-day simple moving average of $217.10. 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 announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping 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 company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

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