AQR Capital Management LLC Sells 164,134 Shares of Republic Services, Inc. (NYSE:RSG)

AQR Capital Management LLC cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,917 shares of the business services provider's stock after selling 164,134 shares during the period. AQR Capital Management LLC owned approximately 0.25% of Republic Services worth $155,286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RSG. Vanguard Group Inc. raised its position in Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock valued at $3,740,083,000 after purchasing an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after buying an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $1,069,836,000 after buying an additional 499,237 shares during the last quarter. Geode Capital Management LLC boosted its stake in Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after buying an additional 57,616 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after acquiring an additional 509,116 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $247.64 on Wednesday. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73. 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 business has a fifty day simple moving average of $237.54 and a two-hundred day simple moving average of $220.16. The company has a market capitalization of $77.38 billion, a P/E ratio of 38.16, a P/E/G ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is presently 34.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RSG shares. UBS Group lifted their price target on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Jefferies Financial Group increased their price target on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Citigroup boosted their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Truist Financial increased their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $249.00.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business'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 completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.