Algebris UK Ltd Acquires Shares of 7,792 Republic Services, Inc. (NYSE:RSG)

Algebris UK Ltd acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,792 shares of the business services provider’s stock, valued at approximately $1,514,000. Republic Services makes up about 0.4% of Algebris UK Ltd’s holdings, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Generali Investments Management Co LLC acquired a new stake in Republic Services during the fourth quarter valued at approximately $134,000. Xponance Inc. raised its stake in Republic Services by 8.1% during the fourth quarter. Xponance Inc. now owns 31,504 shares of the business services provider’s stock valued at $6,338,000 after buying an additional 2,360 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Republic Services during the fourth quarter valued at approximately $45,000. Horizon Investments LLC raised its stake in Republic Services by 1.7% during the fourth quarter. Horizon Investments LLC now owns 3,615 shares of the business services provider’s stock valued at $725,000 after buying an additional 62 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Republic Services by 21.8% during the fourth quarter. Advisors Asset Management Inc. now owns 37,427 shares of the business services provider’s stock valued at $7,530,000 after purchasing an additional 6,697 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the 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 sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Jefferies Financial Group upped 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. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Finally, Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Stock Performance

RSG opened at $233.86 on Wednesday. The company has a market capitalization of $73.03 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The business has a 50 day moving average price of $223.26 and a two-hundred day moving average price of $212.13.

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

Republic Services Dividend Announcement

The business 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 dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

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.