First Trust Advisors LP Sells 4,604 Shares of Republic Services, Inc. (NYSE:RSG)

First Trust Advisors LP decreased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,031 shares of the business services provider's stock after selling 4,604 shares during the quarter. First Trust Advisors LP's holdings in Republic Services were worth $16,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Republic Services during the fourth quarter valued at approximately $553,039,000. Raymond James Financial Inc. acquired a new stake in Republic Services during the 4th quarter valued at $184,827,000. Nordea Investment Management AB lifted its holdings in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Republic Services by 3.6% during the fourth 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 buying an additional 218,729 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Republic Services during the fourth quarter valued at $38,098,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. CIBC raised Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price on the stock in a research note on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Morgan Stanley upped their price target on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Stifel Nicolaus lifted their price objective on Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, UBS Group upped their target price on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $249.00.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $1.24 during midday trading on Friday, hitting $250.65. The company's stock had a trading volume of 171,669 shares, compared to its average volume of 1,101,973. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $252.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 3.64 and a beta of 0.62. The stock's 50 day simple moving average is $238.28 and its 200 day simple moving average is $220.68.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business posted $1.45 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services's dividend payout ratio is 34.99%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the business'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 in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.