Republic Services, Inc. (NYSE:RSG) Stock Position Lessened by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,154 shares of the business services provider's stock after selling 1,355 shares during the period. Pinebridge Investments L.P.'s holdings in Republic Services were worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. Arcadia Investment Management Corp MI boosted its position in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Republic Services during the fourth quarter worth about $32,000. New Age Alpha Advisors LLC increased its holdings in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $45,000. Finally, Bank of Jackson Hole Trust purchased a new position in Republic Services in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE:RSG traded down $1.84 during trading hours on Thursday, reaching $248.91. 323,429 shares of the company traded hands, compared to its average volume of 1,112,335. The stock has a market cap of $77.78 billion, a P/E ratio of 38.33, a P/E/G ratio of 3.64 and a beta of 0.62. The firm's 50-day moving average is $237.95 and its 200-day moving average is $220.38. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $251.70. 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 (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $1.45 EPS. Republic Services's revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RSG shares. The Goldman Sachs Group raised their target price on Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Stifel Nicolaus boosted their price objective on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Scotiabank increased their price target 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. Raymond James reiterated an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $249.00.

Insider Activity at Republic Services

In other 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 transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by 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.