Republic Services, Inc. $RSG Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,850 shares of the business services provider’s stock after selling 24,172 shares during the period. Martingale Asset Management L P’s holdings in Republic Services were worth $16,923,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RSG. Norges Bank purchased a new stake in shares of Republic Services during the fourth quarter valued at $617,165,000. Capital World Investors grew its holdings in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after buying an additional 1,899,183 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Republic Services by 1,337.9% during the fourth quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock valued at $121,995,000 after buying an additional 535,603 shares during the last quarter. Man Group plc grew its holdings in shares of Republic Services by 380.1% during the third quarter. Man Group plc now owns 667,603 shares of the business services provider’s stock valued at $153,202,000 after buying an additional 528,540 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Republic Services by 93.3% in the third quarter. BNP Paribas Financial Markets now owns 907,735 shares of the business services provider’s stock valued at $208,307,000 after buying an additional 438,219 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.8%

Shares of NYSE:RSG opened at $209.75 on Friday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $253.38. The company has a market capitalization of $64.53 billion, a PE ratio of 30.09, a PEG ratio of 3.42 and a beta of 0.41. The business has a 50 day moving average of $208.84 and a two-hundred day moving average of $214.52. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $1.58 earnings per share. Republic Services’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is presently 36.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Citigroup dropped their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Barclays upped their target price on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird dropped their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.26.

Insider Buying and Selling

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 987,150 shares of company stock valued at $202,366,682 over the last three months. 0.12% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.