Republic Services, Inc. $RSG Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Republic Services stake by 33.2% in the fourth quarter, selling 13,926 shares and leaving it with 28,054 shares worth about $5.95 million.
• Other institutional activity was mixed, but insiders were net buyers: Cascade Investment bought 366,000 shares at $202.24 each, and insiders acquired a total of 987,150 shares over the last quarter.
• Republic Services reported better-than-expected quarterly results with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion, while analysts currently have a consensus Hold rating and an average price target of $245.15.

Intech Investment Management LLC reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,054 shares of the business services provider's stock after selling 13,926 shares during the quarter. Intech Investment Management LLC's holdings in Republic Services were worth $5,945,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RSG. Bessemer Group Inc. grew its position in shares of Republic Services by 7,683.2% during the third quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider's stock worth $169,768,000 after buying an additional 730,287 shares in the last quarter. National Pension Service grew its position in shares of Republic Services by 1.2% during the third quarter. National Pension Service now owns 758,644 shares of the business services provider's stock worth $174,094,000 after buying an additional 9,041 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in shares of Republic Services during the third quarter worth about $3,524,000. SteelPeak Wealth LLC grew its position in shares of Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider's stock worth $2,625,000 after buying an additional 7,001 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Republic Services by 68.8% during the third quarter. Citigroup Inc. now owns 352,462 shares of the business services provider's stock worth $80,883,000 after buying an additional 143,704 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 987,150 shares of company stock worth $202,366,682 over the last quarter. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

RSG has been the subject of a number of analyst reports. Argus downgraded Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price objective on Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. Citigroup decreased their target price on Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $245.15.

Republic Services Price Performance

Republic Services stock opened at $200.32 on Friday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $211.11 and a 200-day simple moving average of $214.80. The stock has a market capitalization of $61.63 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.30 and a beta of 0.43.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The company's quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio is currently 35.87%.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.