Republic Services, Inc. (NYSE:RSG) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lessened its stake in Republic Services, Inc. (NYSE:RSG) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,225 shares of the business services provider’s stock after selling 3,655 shares during the quarter. Picton Mahoney Asset Management’s holdings in Republic Services were worth $3,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Republic Services in the fourth quarter valued at $34,000. BKM Wealth Management LLC purchased a new position in Republic Services in the fourth quarter valued at $37,000. Bruce G. Allen Investments LLC purchased a new position in Republic Services in the fourth quarter valued at $41,000. Millburn Ridgefield Corp purchased a new position in Republic Services in the third quarter valued at $36,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Republic Services in the third quarter valued at $36,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RSG shares. Royal Bank of Canada assumed coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price for the company. Jefferies Financial Group lifted 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. The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group lifted their price target on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price target on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Republic Services Stock Performance

NYSE RSG traded down $1.22 on Wednesday, hitting $187.34. 1,489,069 shares of the company’s stock were exchanged, compared to its average volume of 1,256,565. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The firm’s 50-day moving average price is $188.14 and its two-hundred day moving average price is $172.87. Republic Services, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $196.76. The firm has a market cap of $59.00 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 3.22 and a beta of 0.67.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 37.54%.

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.