Voloridge Investment Management LLC Cuts Position in Republic Services, Inc. (NYSE:RSG)

Voloridge Investment Management LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 542,974 shares of the business services provider's stock after selling 28,459 shares during the period. Voloridge Investment Management LLC owned about 0.17% of Republic Services worth $109,236,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its stake in Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after purchasing an additional 46 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock valued at $445,000 after purchasing an additional 48 shares during the last quarter. FORA Capital LLC increased its stake in Republic Services by 0.7% in the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after purchasing an additional 50 shares during the last quarter. Access Financial Services Inc. increased its stake in Republic Services by 0.8% in the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock valued at $1,243,000 after purchasing an additional 51 shares during the last quarter. Finally, Tower Wealth Partners Inc. increased its stake in Republic Services by 3.3% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock valued at $341,000 after purchasing an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of research reports. Royal Bank of Canada restated an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Stifel Nicolaus raised their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Cibc World Mkts upgraded shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. BMO Capital Markets increased their price target on Republic Services from $260.00 to $268.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Morgan Stanley increased their price target on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Five investment 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $249.00.

Republic Services Price Performance

Shares of RSG opened at $250.19 on Tuesday. The company has a market cap of $78.18 billion, a P/E ratio of 38.55, a PEG ratio of 3.64 and a beta of 0.66. The stock has a fifty day moving average price of $241.39 and a 200 day moving average price of $224.65. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $253.54.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping 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 12.74%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid 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 yield of 0.93%. Republic Services's 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 on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

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.

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