Sawgrass Asset Management LLC Cuts Holdings in Republic Services, Inc. (NYSE:RSG)

Sawgrass Asset Management LLC lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 33.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,134 shares of the business services provider's stock after selling 17,908 shares during the quarter. Sawgrass Asset Management LLC's holdings in Republic Services were worth $7,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. Vanguard Group Inc. lifted its stake in shares of Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider's stock worth $3,494,714,000 after buying an additional 101,518 shares in the last quarter. Capital World Investors grew its stake in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc lifted its holdings in Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock valued at $351,480,000 after acquiring an additional 92,013 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider's stock worth $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded down $1.42 on Friday, reaching $208.04. The company's stock had a trading volume of 984,389 shares, compared to its average volume of 927,151. The firm has a market cap of $65.15 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70. Republic Services, Inc. has a 52 week low of $157.46 and a 52 week high of $216.18. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $203.84 and a 200 day moving average price of $198.02.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Sell-side analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of recent analyst reports. CIBC lifted their price objective on Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They set a "sector perform" rating and a $224.00 price target on the stock. StockNews.com lowered Republic Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 1st. Morgan Stanley increased their price objective on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price target on Republic Services from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus target price of $215.71.

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.