Martingale Asset Management L P Trims Position in Republic Services, Inc. (NYSE:RSG)

Martingale Asset Management L P cut its holdings in Republic Services, Inc. (NYSE:RSG) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 149,365 shares of the business services provider’s stock after selling 7,627 shares during the period. Republic Services accounts for about 0.7% of Martingale Asset Management L P’s holdings, making the stock its 29th biggest position. Martingale Asset Management L P’s holdings in Republic Services were worth $30,049,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RSG. APG Asset Management N.V. lifted its position in Republic Services by 31.6% during the fourth quarter. APG Asset Management N.V. now owns 309,423 shares of the business services provider’s stock worth $60,116,000 after buying an additional 74,248 shares during the period. Capula Management Ltd acquired a new position in Republic Services in the fourth quarter valued at $255,000. Peachtree Investment Partners LLC boosted its position in Republic Services by 26.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 1,773 shares of the business services provider’s stock worth $357,000 after purchasing an additional 370 shares during the period. Bank of Nova Scotia increased its holdings in Republic Services by 53.8% in the 4th quarter. Bank of Nova Scotia now owns 368,989 shares of the business services provider’s stock valued at $74,277,000 after purchasing an additional 129,117 shares in the last quarter. Finally, FIL Ltd purchased a new position in Republic Services in the fourth quarter valued at about $13,654,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated 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 directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

RSG stock opened at $227.13 on Wednesday. The stock’s fifty day moving average is $231.53 and its two-hundred day moving average is $215.73. The stock has a market capitalization of $70.93 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 3.64 and a beta of 0.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Analyst Ratings Changes

RSG has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Jefferies Financial Group boosted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.50.

About Republic Services

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.