Jennison Associates LLC Has $34.15 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 235.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,050 shares of the business services provider’s stock after buying an additional 145,244 shares during the quarter. Jennison Associates LLC’s holdings in Republic Services were worth $34,145,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Magellan Asset Management Ltd lifted its stake in shares of Republic Services by 1,497,159.0% in the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares during the period. FMR LLC lifted its position in shares of Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Republic Services during the 4th quarter valued at $77,417,000. Envestnet Asset Management Inc. boosted its stake in Republic Services by 50.9% during the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after acquiring an additional 303,754 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Republic Services by 1,383.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock worth $34,359,000 after purchasing an additional 224,841 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RSG. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective on the stock. Citigroup upped their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a report on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Trading Up 0.7 %

Shares of RSG opened at $191.99 on Thursday. Republic Services, Inc. has a 1-year low of $135.33 and a 1-year high of $192.99. The company has a market capitalization of $60.47 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.33 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day simple moving average is $186.86 and its 200 day simple moving average is $170.01.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the company posted $1.13 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is currently 39.12%.

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.