Renaissance Technologies LLC Sells 216,500 Shares of Republic Services, Inc. (NYSE:RSG)

Renaissance Technologies LLC lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,361 shares of the business services provider’s stock after selling 216,500 shares during the period. Renaissance Technologies LLC’s holdings in Republic Services were worth $61,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. lifted its stake in shares of Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after buying an additional 48 shares in the last quarter. Access Financial Services Inc. raised its holdings in shares of Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares during the last quarter. Tower Wealth Partners Inc. increased its holdings in Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock valued at $341,000 after buying an additional 54 shares during the last quarter. Umpqua Bank increased its holdings in Republic Services by 3.2% during the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock valued at $374,000 after buying an additional 56 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in Republic Services by 3.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider’s stock valued at $349,000 after buying an additional 59 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 5.2 %

Shares of NYSE:RSG opened at $238.92 on Thursday. The firm’s 50-day moving average is $232.38 and its two-hundred day moving average is $216.14. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73. The firm has a market capitalization of $74.61 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.08 billion. During the same period in the prior year, the company earned $1.41 earnings per share. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company’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 completion of the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RSG shares. The Goldman Sachs Group increased their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. CIBC upgraded 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 research report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Morgan Stanley raised their target price on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus raised their target price 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. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.50.

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.