Ethic Inc. Increases Stake in Republic Services, Inc. (NYSE:RSG)

Ethic Inc. boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,471 shares of the business services provider's stock after purchasing an additional 1,654 shares during the quarter. Ethic Inc.'s holdings in Republic Services were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Republic Services during the 4th quarter worth about $553,039,000. Raymond James Financial Inc. acquired a new position in shares of Republic Services in the 4th quarter worth approximately $184,827,000. Price T Rowe Associates Inc. MD boosted its position 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 period. Alyeska Investment Group L.P. boosted its position in Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after purchasing an additional 368,395 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in Republic Services by 176.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider's stock valued at $110,298,000 after purchasing an additional 350,221 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on 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 transaction, the chief operating officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Republic Services Trading Down 0.1%

NYSE RSG traded down $0.19 during trading on Wednesday, hitting $237.80. 1,428,067 shares of the company's stock traded hands, compared to its average volume of 1,111,848. 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 fifty day moving average of $240.38 and a two-hundred day moving average of $223.22. The firm has a market cap of $74.31 billion, a P/E ratio of 36.64, a PEG ratio of 3.64 and a beta of 0.66. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $253.54.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.98%. Republic Services's dividend payout ratio is currently 34.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSG. Cibc World Mkts raised Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Jefferies Financial Group increased their target price on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Raymond James reissued an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Finally, Scotiabank increased their price objective on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

Republic Services 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.