Republic Services, Inc. (NYSE:RSG) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 78.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,200 shares of the business services provider’s stock after selling 8,218 shares during the quarter. iA Global Asset Management Inc.’s holdings in Republic Services were worth $443,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Algebris UK Ltd acquired a new position in shares of Republic Services during the 4th quarter worth about $1,514,000. Generali Investments Management Co LLC acquired a new position in shares of Republic Services during the 4th quarter worth about $134,000. Xponance Inc. boosted its position in shares of Republic Services by 8.1% during the 4th quarter. Xponance Inc. now owns 31,504 shares of the business services provider’s stock worth $6,338,000 after acquiring an additional 2,360 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter valued at about $45,000. Finally, Horizon Investments LLC boosted its position in shares of Republic Services by 1.7% in the 4th quarter. Horizon Investments LLC now owns 3,615 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 62 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Argus set a $260.00 target price on Republic Services in a research report on Tuesday, February 18th. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research report on Tuesday, March 4th. Finally, Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Stock Performance

Shares of RSG stock opened at $232.95 on Friday. The company has a market cap of $72.75 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The stock has a 50 day simple moving average of $224.90 and a 200-day simple moving average of $212.66. Republic Services, Inc. has a 12-month low of $180.92 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.

Republic Services (NYSE:RSG) last released 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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $1.41 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company 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 $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is currently 35.75%.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.