Alliancebernstein L.P. Reduces Stake in Republic Services, Inc. (NYSE:RSG)

Alliancebernstein L.P. lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 569,981 shares of the business services provider’s stock after selling 23,139 shares during the quarter. Alliancebernstein L.P.’s holdings in Republic Services were worth $114,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arcadia Investment Management Corp MI boosted its position in shares of Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd bought a new position in Republic Services in the 4th quarter valued at $32,000. New Age Alpha Advisors LLC grew its position in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Republic Services in the fourth quarter worth $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Republic Services in the fourth quarter worth $48,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG stock opened at $244.66 on Thursday. The company has a market capitalization of $76.40 billion, a P/E ratio of 37.70, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $245.00. 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 stock has a 50 day moving average price of $229.51 and a two-hundred day moving average price of $214.60.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the prior year, the business posted $1.41 EPS. Analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RSG shares. Morgan Stanley upped their target price on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Jefferies Financial Group raised their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Five 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

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.