Republic Services, Inc. (NYSE:RSG) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in Republic Services, Inc. (NYSE:RSG) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,520 shares of the business services provider’s stock after selling 16,937 shares during the quarter. Prudential Financial Inc.’s holdings in Republic Services were worth $22,234,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Republic Services during the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI increased its stake in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the period. R Squared Ltd acquired a new position in Republic Services in the 4th quarter worth $32,000. Truvestments Capital LLC purchased a new position in Republic Services in the 3rd quarter valued at about $34,000. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services during the fourth quarter worth about $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

RSG stock opened at $237.79 on Thursday. The stock’s fifty day moving average is $226.67 and its two-hundred day moving average is $213.33. The stock has a market capitalization of $74.26 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 3.64 and a beta of 0.73. 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 $240.95.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $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 firm also recently declared 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. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.98%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RSG shares. Morgan Stanley upped their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Stifel Nicolaus boosted their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Argus set a $260.00 price target on shares of Republic Services in a research report on Tuesday, February 18th. UBS Group boosted their price objective on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.