Alyeska Investment Group L.P. Buys 368,395 Shares of Republic Services, Inc. (NYSE:RSG)

Alyeska Investment Group L.P. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 170.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 584,345 shares of the business services provider's stock after purchasing an additional 368,395 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.19% of Republic Services worth $117,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. increased its stake in shares of Republic Services by 2.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock worth $445,000 after purchasing an additional 48 shares during the last quarter. Access Financial Services Inc. lifted its position in shares of Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock valued at $1,243,000 after buying an additional 51 shares during the last quarter. Tower Wealth Partners Inc. increased its holdings in Republic Services by 3.3% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock worth $341,000 after acquiring an additional 54 shares during the last quarter. Umpqua Bank raised its stake in Republic Services by 3.2% in the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock valued at $374,000 after acquiring an additional 56 shares during the period. Finally, Fidelis Capital Partners LLC lifted its holdings in Republic Services by 3.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider's stock valued at $349,000 after purchasing an additional 59 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Republic Services stock traded up $0.35 during mid-day trading on Tuesday, reaching $251.08. 759,943 shares of the stock traded hands, compared to its average volume of 1,098,790. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $252.85. The business's 50-day moving average is $239.00 and its 200-day moving average is $221.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market capitalization of $78.46 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.45 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 0.92%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is presently 34.99%.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Robert W. Baird upped their price target on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Raymond James restated an "outperform" rating on shares of Republic Services in a research note on Wednesday, April 16th. Finally, Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $249.00.

Republic Services Company Profile

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.