Shell Asset Management Co. Boosts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Shell Asset Management Co. boosted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,701 shares of the business services provider's stock after purchasing an additional 2,804 shares during the period. Shell Asset Management Co.'s holdings in Republic Services were worth $2,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC lifted its position in Republic Services by 0.5% during 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 period. McGlone Suttner Wealth Management Inc. raised its position 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 worth $445,000 after acquiring an additional 48 shares during the period. FORA Capital LLC raised its position 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 worth $1,541,000 after acquiring an additional 50 shares during the period. Access Financial Services Inc. raised its position 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 worth $1,243,000 after acquiring an additional 51 shares during the period. Finally, Tower Wealth Partners Inc. raised its position 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 worth $341,000 after acquiring an additional 54 shares during the period. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

RSG stock traded up $1.73 during trading on Tuesday, hitting $252.10. 1,147,991 shares of the company's stock traded hands, compared to its average volume of 1,117,810. The business has a fifty day simple moving average of $241.39 and a 200 day simple moving average of $224.65. The stock has a market capitalization of $78.78 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54.

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 (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.45 EPS. As a group, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal 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 issued 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 0.92%. Republic Services's payout ratio is 34.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RSG. Stifel Nicolaus increased their price target 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. UBS Group increased their price objective on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. Scotiabank raised their target price on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $249.00.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

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.