Republic Services, Inc. (NYSE:RSG) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,213 shares of the business services provider's stock after selling 1,555 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Republic Services were worth $2,473,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Republic Services in the fourth quarter valued at approximately $553,039,000. GAMMA Investing LLC grew its position in shares of Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after buying an additional 2,220,487 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Services during the 4th quarter worth $184,827,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Republic Services by 10.4% in 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 last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Republic Services by 170.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after buying an additional 368,395 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RSG shares. Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. Morgan Stanley lifted their price objective on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. The Goldman Sachs Group increased their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Citigroup boosted their target price on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.44.

Republic Services Trading Down 0.1%

RSG traded down $0.23 during midday trading on Friday, hitting $252.93. The company's stock had a trading volume of 709,641 shares, compared to its average volume of 1,131,572. The firm has a market cap of $79.04 billion, a P/E ratio of 38.97, a PEG ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a 52-week low of $185.07 and a 52-week high of $258.75. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $246.14 and a two-hundred day moving average price of $228.51.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results 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 firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. Republic Services's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share. On average, research analysts anticipate 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. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is currently 34.99%.

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.