Republic Services, Inc. (NYSE:RSG) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 85.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,166 shares of the business services provider's stock after selling 37,010 shares during the quarter. Point72 Hong Kong Ltd's holdings in Republic Services were worth $1,241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RSG. Barclays PLC raised its holdings in Republic Services by 11.0% in the 3rd quarter. Barclays PLC now owns 675,163 shares of the business services provider's stock worth $135,598,000 after purchasing an additional 66,842 shares during the period. Wedmont Private Capital grew its holdings in Republic Services by 7.9% in the 4th quarter. Wedmont Private Capital now owns 2,517 shares of the business services provider's stock valued at $519,000 after buying an additional 185 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Republic Services by 104.5% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,971 shares of the business services provider's stock valued at $598,000 after purchasing an additional 1,518 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in Republic Services in the fourth quarter valued at $204,000. Finally, Oak Thistle LLC purchased a new position in Republic Services during the fourth quarter worth about $411,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was 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 insiders.

Republic Services Price Performance

Shares of NYSE:RSG traded up $2.40 on Monday, hitting $250.19. The company had a trading volume of 1,022,981 shares, compared to its average volume of 1,116,851. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $253.54. The business has a 50 day moving average of $241.00 and a 200 day moving average of $224.29. The company has a market cap of $78.18 billion, a PE ratio of 38.55, a PEG ratio of 3.64 and a beta of 0.66. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last posted 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 net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.45 earnings per share. Republic Services's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Wall Street Analyst Weigh In

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 for the company in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Raymond James reissued an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. Finally, William Blair restated 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 given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $249.00.

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.