Ieq Capital LLC Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Ieq Capital LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,951 shares of the business services provider’s stock after selling 5,157 shares during the period. Ieq Capital LLC’s holdings in Republic Services were worth $996,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cumberland Partners Ltd boosted its stake in Republic Services by 9.9% in the 4th quarter. Cumberland Partners Ltd now owns 11,700 shares of the business services provider’s stock worth $2,354,000 after purchasing an additional 1,050 shares during the period. Bryn Mawr Capital Management LLC increased its holdings in Republic Services by 185.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 13,446 shares of the business services provider’s stock valued at $2,705,000 after acquiring an additional 8,731 shares during the last quarter. Financial Perspectives Inc lifted its stake in Republic Services by 2,029.4% in the 4th quarter. Financial Perspectives Inc now owns 362 shares of the business services provider’s stock worth $73,000 after purchasing an additional 345 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Republic Services during the 4th quarter valued at about $48,000. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Republic Services by 58.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,564 shares of the business services provider’s stock worth $1,924,000 after purchasing an additional 3,520 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $232.67 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market cap of $72.66 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The firm has a 50-day moving average of $213.36 and a two-hundred day moving average of $208.86. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $233.42.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.41 EPS. On average, research analysts forecast 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. 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 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of research reports. UBS Group increased their price target on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. CIBC lifted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.41.

Insider Activity

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Gregg Brummer sold 6,293 shares of the company’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 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 disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.