Cresset Asset Management LLC Reduces Stake in Republic Services, Inc. (NYSE:RSG)

Cresset Asset Management LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 59.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,712 shares of the business services provider’s stock after selling 15,463 shares during the period. Cresset Asset Management LLC’s holdings in Republic Services were worth $2,155,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd purchased a new stake in Republic Services in the 4th quarter worth about $32,000. New Age Alpha Advisors LLC raised its stake in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the period. Generali Asset Management SPA SGR bought a new position in Republic Services during the fourth quarter worth about $45,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Republic Services in the fourth quarter worth about $48,000. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RSG. Scotiabank raised their price objective on shares of Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 8th. Robert W. Baird lifted their price target on Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. UBS Group upped their price target on Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Finally, The Goldman Sachs Group raised their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.00.

Republic Services Price Performance

RSG stock opened at $248.56 on Friday. 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 firm’s 50-day moving average price is $240.12 and its two-hundred day moving average price is $222.55. The stock has a market capitalization of $77.67 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 3.64 and a beta of 0.66. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $253.54.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business 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 posted $1.45 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

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.