Sawgrass Asset Management LLC Sells 10,843 Shares of Republic Services, Inc. (NYSE:RSG)

Sawgrass Asset Management LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 31.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,214 shares of the business services provider's stock after selling 10,843 shares during the period. Sawgrass Asset Management LLC's holdings in Republic Services were worth $5,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Republic Services by 11.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,912 shares of the business services provider's stock valued at $5,306,000 after purchasing an additional 2,270 shares in the last quarter. Cassia Capital Partners LLC raised its position in Republic Services by 5.1% in the 1st quarter. Cassia Capital Partners LLC now owns 4,998 shares of the business services provider's stock valued at $1,210,000 after buying an additional 242 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Republic Services in the 1st quarter valued at approximately $11,322,000. Heartland Bank & Trust Co raised its position in Republic Services by 109.4% in the 1st quarter. Heartland Bank & Trust Co now owns 2,195 shares of the business services provider's stock valued at $532,000 after buying an additional 1,147 shares during the last quarter. Finally, Running Oak Capital LLC increased its position in shares of Republic Services by 1.1% during the 1st quarter. Running Oak Capital LLC now owns 69,259 shares of the business services provider's stock worth $16,772,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

NYSE:RSG opened at $248.11 on Monday. The stock has a fifty day moving average price of $248.61 and a 200-day moving average price of $231.25. The company has a market cap of $77.53 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 3.80 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a fifty-two week low of $188.82 and a fifty-two week high of $258.75.

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 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 return on equity of 18.28% and a net margin of 12.88%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.94%. Republic Services's payout ratio is 34.99%.

Analyst Ratings Changes

Several research analysts have weighed in on RSG shares. Robert W. Baird boosted their price target on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, UBS Group lifted their target price on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note 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, the company currently has an average rating of "Moderate Buy" and an average target price of $252.68.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.