Republic Services, Inc. (NYSE:RSG) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 20.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,175,318 shares of the business services provider's stock after selling 302,489 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.38% of Republic Services worth $236,450,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock worth $3,586,000 after buying an additional 4,827 shares during the period. DnB Asset Management AS increased its position in shares of Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after purchasing an additional 28,764 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Republic Services during the 4th quarter worth $4,430,000. Czech National Bank grew its stake in shares of Republic Services by 6.1% during the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in Republic Services in the fourth quarter valued at $790,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on RSG shares. BMO Capital Markets increased their price objective on Republic Services from $260.00 to $268.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Morgan Stanley increased their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Citigroup boosted their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, Jefferies Financial Group upped their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Five research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $249.00.

Republic Services Stock Performance

Shares of NYSE RSG traded up $1.01 during mid-day trading on Friday, hitting $250.42. 894,106 shares of the company were exchanged, compared to its average volume of 1,100,608. The stock has a 50 day simple moving average of $238.62 and a 200-day simple moving average of $221.09. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $252.40. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $78.26 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the business earned $1.45 EPS. The business's revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business's 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 sale, the chief operating officer now 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company's stock.

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.