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

Envestnet Asset Management Inc. trimmed its position in Republic Services, Inc. (NYSE:RSG) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 700,160 shares of the business services provider’s stock after selling 49,564 shares during the period. Envestnet Asset Management Inc. owned 0.22% of Republic Services worth $140,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. HighTower Advisors LLC boosted its holdings in shares of Republic Services by 1.5% in the 3rd quarter. HighTower Advisors LLC now owns 27,359 shares of the business services provider’s stock valued at $5,488,000 after acquiring an additional 406 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Republic Services by 1.2% in the third quarter. Integrated Wealth Concepts LLC now owns 4,870 shares of the business services provider’s stock valued at $978,000 after purchasing an additional 58 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in Republic Services by 89.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 6,184 shares of the business services provider’s stock worth $1,242,000 after purchasing an additional 2,920 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Republic Services by 85.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 10,418 shares of the business services provider’s stock valued at $2,092,000 after buying an additional 4,792 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Republic Services in the third quarter worth about $388,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $230.99 on Tuesday. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $249.73. The company has a market cap of $72.14 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.64 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $231.01 and its 200-day moving average price is $215.46.

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, topping 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 for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm posted $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on RSG. Argus set a $260.00 price objective on Republic Services in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by 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.