Voleon Capital Management LP Buys Shares of 13,065 Republic Services, Inc. (NYSE:RSG)

Voleon Capital Management LP purchased a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,065 shares of the business services provider's stock, valued at approximately $2,628,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Republic Services during the 4th quarter worth approximately $553,039,000. Raymond James Financial Inc. acquired a new position in shares of Republic Services in the 4th quarter valued at $184,827,000. Nordea Investment Management AB raised its stake in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after purchasing an additional 499,237 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Republic Services by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after purchasing an additional 280,542 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RSG shares. Robert W. Baird upped their target price on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. The Goldman Sachs Group increased their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. BMO Capital Markets boosted their target price on shares of Republic Services from $260.00 to $268.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Citigroup increased their price target on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Scotiabank upped their target price on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $249.00.

Republic Services Price Performance

Shares of NYSE RSG traded up $0.26 during midday trading on Monday, hitting $250.78. The stock had a trading volume of 426,293 shares, compared to its average volume of 1,099,164. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $252.40. The company has a market capitalization of $78.37 billion, a PE ratio of 38.61, a P/E/G ratio of 3.64 and a beta of 0.62. The stock has a 50 day simple moving average of $238.62 and a 200-day simple moving average of $221.19.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated 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 directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% 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.