Jennison Associates LLC Decreases Stock Position in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,168 shares of the business services provider's stock after selling 139,588 shares during the period. Jennison Associates LLC's holdings in Republic Services were worth $14,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Saturna Capital Corp raised its position in shares of Republic Services by 1.5% during the 1st quarter. Saturna Capital Corp now owns 7,235 shares of the business services provider's stock valued at $1,752,000 after buying an additional 105 shares in the last quarter. Independent Wealth Network Inc. bought a new stake in Republic Services during the first quarter worth about $221,000. Graypoint LLC lifted its stake in shares of Republic Services by 5.0% in the first quarter. Graypoint LLC now owns 1,602 shares of the business services provider's stock worth $388,000 after buying an additional 77 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in Republic Services in the 1st quarter worth approximately $203,000. Finally, James Investment Research Inc. bought a new stake in Republic Services in the 1st quarter worth approximately $1,623,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded up $1.73 during midday trading on Thursday, hitting $245.00. The company had a trading volume of 361,418 shares, compared to its average volume of 1,277,872. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a twelve month low of $188.82 and a twelve month high of $258.75. The company has a market capitalization of $76.56 billion, a PE ratio of 36.95, a P/E/G ratio of 3.68 and a beta of 0.61. The firm has a 50-day moving average price of $247.41 and a 200-day moving average price of $236.78.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

RSG has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research note on Friday, April 25th. Raymond James Financial boosted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday. Citigroup upped their target price on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Finally, UBS Group increased their price objective 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. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.16.

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.