Cresset Asset Management LLC Sells 15,463 Shares of Republic Services, Inc. (NYSE:RSG)

Cresset Asset Management LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 59.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,712 shares of the business services provider's stock after selling 15,463 shares during the quarter. Cresset Asset Management LLC's holdings in Republic Services were worth $2,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RSG. McGlone Suttner Wealth Management Inc. boosted its position in Republic Services by 2.2% during the fourth 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 in the last quarter. Access Financial Services Inc. raised its holdings in Republic Services by 0.8% in 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 acquiring an additional 51 shares during the last quarter. Tower Wealth Partners Inc. boosted its stake in Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock worth $341,000 after buying an additional 54 shares during the last quarter. Umpqua Bank increased its position in Republic Services by 3.2% during the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock worth $374,000 after purchasing an additional 56 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Republic Services by 3.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider's stock worth $349,000 after acquiring an additional 59 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 1.2%

NYSE RSG traded down $2.91 during mid-day trading on Tuesday, reaching $238.55. 2,874,770 shares of the company's stock traded hands, compared to its average volume of 1,109,353. The company has a fifty day simple moving average of $240.23 and a 200-day simple moving average of $223.12. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $253.54. The company has a market cap of $74.55 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

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

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. Republic Services's dividend payout ratio (DPR) is 34.99%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RSG. William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Robert W. Baird increased their target price 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. Raymond James reaffirmed an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus lifted their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.