Verition Fund Management LLC Sells 101,209 Shares of Republic Services, Inc. (NYSE:RSG)

Verition Fund Management LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 70.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,427 shares of the business services provider’s stock after selling 101,209 shares during the quarter. Verition Fund Management LLC’s holdings in Republic Services were worth $6,997,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia grew its stake in shares of Republic Services by 52.3% in the fourth quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after acquiring an additional 73,651 shares during the period. TCW Group Inc. bought a new stake in shares of Republic Services in the fourth quarter worth approximately $17,903,000. Hsbc Holdings PLC boosted its holdings in shares of Republic Services by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after buying an additional 36,484 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after buying an additional 55,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Republic Services by 123.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 38,869 shares of the business services provider’s stock worth $6,410,000 after buying an additional 21,481 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Up 0.4 %

Shares of RSG opened at $187.72 on Tuesday. The company’s fifty day moving average is $187.90 and its 200 day moving average is $178.43. Republic Services, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $196.76. The stock has a market capitalization of $59.12 billion, a PE ratio of 32.93, a P/E/G ratio of 3.14 and a beta of 0.68. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53.

Republic Services (NYSE:RSGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several analyst reports. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target on the stock. Finally, UBS Group boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

View Our Latest Analysis on Republic Services

Insider Buying and Selling at Republic Services

In other news, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth purchased 540 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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