Republic Services, Inc. (NYSE:RSG) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,552,115 shares of the business services provider's stock after selling 126,012 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.50% of Republic Services worth $312,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RSG. McGlone Suttner Wealth Management Inc. raised its holdings in shares of 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 buying an additional 48 shares during the last quarter. Access Financial Services Inc. raised its stake in Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock valued at $1,243,000 after acquiring an additional 51 shares during the last quarter. Tower Wealth Partners Inc. lifted its position in Republic Services by 3.3% during the 4th 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. Umpqua Bank grew its stake in shares of Republic Services by 3.2% in the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock valued at $374,000 after purchasing an additional 56 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Republic Services by 3.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider's stock valued at $349,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RSG shares. Raymond James reiterated an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. BMO Capital Markets increased their price target on shares of Republic Services from $260.00 to $268.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. UBS Group lifted their price objective on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Jefferies Financial Group increased their target price on Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Five investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $249.00.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction on 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 directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. 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 currently owned by insiders.

Republic Services Stock Up 0.1 %

RSG stock opened at $250.74 on Tuesday. 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 $252.40. The firm has a market capitalization of $78.36 billion, a PE ratio of 38.63, a P/E/G ratio of 3.64 and a beta of 0.66. The company's 50 day simple moving average is $239.00 and its 200-day simple moving average is $221.52.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business 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 $0.58 dividend. The ex-dividend date of this dividend 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 34.99%.

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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