Massachusetts Financial Services Co. MA Sells 82,933 Shares of Republic Services, Inc. (NYSE:RSG)

Massachusetts Financial Services Co. MA lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 30.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 192,532 shares of the business services provider’s stock after selling 82,933 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Republic Services were worth $38,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. increased its position 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 worth $445,000 after purchasing an additional 48 shares during the period. Access Financial Services Inc. increased its holdings in Republic Services by 0.8% in 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 buying an additional 51 shares during the period. Tower Wealth Partners Inc. raised its position in shares of Republic Services by 3.3% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock valued at $341,000 after buying an additional 54 shares in the last quarter. Umpqua Bank lifted its holdings in shares of Republic Services by 3.2% during the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock worth $374,000 after acquiring an additional 56 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in Republic Services by 1.2% in the third quarter. Integrated Wealth Concepts LLC now owns 4,870 shares of the business services provider’s stock valued at $978,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, William Blair restated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Trading Down 5.3 %

Shares of RSG stock opened at $235.29 on Friday. The stock has a 50-day moving average of $230.70 and a 200-day moving average of $215.14. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market cap of $73.48 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business earned $1.41 EPS. On average, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Republic Services Company 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.