Assetmark Inc. Has $8.53 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Assetmark Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 131.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,410 shares of the business services provider’s stock after buying an additional 24,091 shares during the period. Assetmark Inc.’s holdings in Republic Services were worth $8,532,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RSG. Wellington Management Group LLP grew its stake in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares during the period. Geode Capital Management LLC grew its position in Republic Services by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after purchasing an additional 73,207 shares during the period. Nordea Investment Management AB increased its stake in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Republic Services by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after buying an additional 25,350 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Up 1.2 %

NYSE:RSG opened at $234.28 on Friday. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $218.91 and its 200 day moving average is $210.80. The stock has a market capitalization of $73.16 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued 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 firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the prior year, the firm earned $1.41 EPS. Sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s payout ratio is 35.75%.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RSG shares. Morgan Stanley raised their price target on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a report on Tuesday. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Stifel Nicolaus lifted their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, UBS Group raised their price target on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

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.