Jennison Associates LLC Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 235.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,050 shares of the business services provider's stock after acquiring an additional 145,244 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of Republic Services worth $34,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RSG. FinTrust Capital Advisors LLC grew its stake in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider's stock worth $28,000 after purchasing an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $34,000. BKM Wealth Management LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $37,000. Bruce G. Allen Investments LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $41,000. Finally, Millburn Ridgefield Corp acquired a new stake in Republic Services during the third quarter worth approximately $36,000. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RSG. Royal Bank of Canada began coverage on Republic Services in a research note on Monday, April 8th. They set a "sector perform" rating and a $198.00 target price for the company. Oppenheimer raised their price objective on Republic Services from $182.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, February 28th. Morgan Stanley downgraded Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 price target on the stock. in a research note on Friday, March 15th. Wells Fargo & Company upped their price target on Republic Services from $180.00 to $188.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group increased their target price on Republic Services from $209.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and an average target price of $199.77.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

NYSE:RSG traded up $1.53 on Thursday, reaching $193.52. 1,358,375 shares of the company's stock traded hands, compared to its average volume of 1,205,295. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a 50-day simple moving average of $187.13 and a 200-day simple moving average of $170.17. The firm has a market cap of $60.95 billion, a PE ratio of 35.38, a P/E/G ratio of 3.33 and a beta of 0.68. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $193.82.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.11%. Republic Services's dividend payout ratio is currently 39.12%.

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.