Two Sigma Investments LP Sells 232,662 Shares of Republic Services, Inc. (NYSE:RSG)

Two Sigma Investments LP lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 35.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 430,838 shares of the business services provider's stock after selling 232,662 shares during the period. Two Sigma Investments LP owned approximately 0.14% of Republic Services worth $86,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after buying an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after purchasing an additional 218,729 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $1,069,836,000 after purchasing an additional 499,237 shares during the period. Geode Capital Management LLC grew its position in Republic Services by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after buying an additional 57,616 shares during the period. Finally, Norges Bank bought a new stake in Republic Services in the fourth quarter worth about $553,039,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 1.0%

RSG opened at $250.19 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business's fifty day simple moving average is $241.39 and its 200 day simple moving average is $224.65. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54. The stock has a market cap of $78.18 billion, a PE ratio of 38.55, a P/E/G ratio of 3.64 and a beta of 0.66.

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 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 analysts' expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. Republic Services's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.45 EPS. As a group, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm 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 dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated 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 directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Stifel Nicolaus lifted their price objective on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Truist Financial upped their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Scotiabank lifted their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Finally, Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average 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.

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