Republic Services, Inc. $RSG Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in Republic Services, Inc. (NYSE:RSG) by 74.4% during the first quarter, Holdings Channel.com reports. The firm owned 46,501 shares of the business services provider’s stock after selling 135,250 shares during the period. Jennison Associates LLC’s holdings in Republic Services were worth $10,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services in the 3rd quarter valued at $26,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services during the 4th quarter worth $30,000. Sound Income Strategies LLC acquired a new stake in shares of Republic Services during the fourth quarter worth $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 2.8%

NYSE RSG opened at $214.37 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $246.25. The business has a 50 day moving average price of $211.64 and a two-hundred day moving average price of $214.75. The stock has a market cap of $65.95 billion, a PE ratio of 30.76, a P/E/G ratio of 3.69 and a beta of 0.40.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date was 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 currently 35.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RSG shares. UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Citigroup lifted their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Robert W. Baird decreased their target price on shares of 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, Royal Bank Of Canada boosted their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Eleven research 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, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services 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 sale, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

About Republic Services

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.