Republic Services, Inc. $RSG Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,850 shares of the business services provider’s stock after selling 24,172 shares during the quarter. Martingale Asset Management L P’s holdings in Republic Services were worth $16,923,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider’s stock worth $4,384,757,000 after buying an additional 49,365 shares during the period. Capital World Investors raised its stake in shares of Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after buying an additional 1,899,183 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Republic Services by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider’s stock worth $711,003,000 after buying an additional 409,142 shares during the period. Norges Bank acquired a new position in shares of Republic Services during the 4th quarter worth approximately $617,165,000. Finally, Bank of America Corp DE raised its stake in Republic Services by 6.0% in the 3rd quarter. Bank of America Corp DE now owns 2,031,005 shares of the business services provider’s stock valued at $466,075,000 after purchasing an additional 114,291 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 987,150 shares of company stock valued at $202,366,682. Company insiders own 0.12% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $209.75 on Friday. The stock has a market cap of $64.53 billion, a PE ratio of 30.09, a P/E/G ratio of 3.42 and a beta of 0.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $253.38. The stock has a fifty day simple moving average of $208.84 and a 200-day simple moving average of $214.52.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. Equities analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 36.15%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird reduced their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Citigroup reduced their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.26.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.