Algebris UK Ltd. Sells 2,567 Shares of Republic Services, Inc. $RSG

Algebris UK Ltd. reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,653 shares of the business services provider’s stock after selling 2,567 shares during the period. Algebris UK Ltd.’s holdings in Republic Services were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of Republic Services by 7,683.2% during the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock worth $169,768,000 after purchasing an additional 730,287 shares during the period. National Pension Service increased its holdings in shares of Republic Services by 1.2% during the 3rd quarter. National Pension Service now owns 758,644 shares of the business services provider’s stock worth $174,094,000 after purchasing an additional 9,041 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in shares of Republic Services during the third quarter valued at approximately $3,524,000. SteelPeak Wealth LLC increased its position in shares of Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after purchasing an additional 7,001 shares during the period. Finally, Citigroup Inc. increased its position in shares of Republic Services by 68.8% during the third quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock valued at $80,883,000 after purchasing an additional 143,704 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RSG. Wolfe Research began coverage on Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Wells Fargo & Company boosted their price objective on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Barclays boosted their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. UBS Group lowered their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $245.15.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $212.21 on Thursday. The business’s fifty day moving average price is $213.63 and its two-hundred day moving average price is $214.87. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $258.75. The stock has a market capitalization of $65.29 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is currently 36.15%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.