Gabelli Funds LLC Sells 17,860 Shares of Republic Services, Inc. (NYSE:RSG)

Gabelli Funds LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,197 shares of the business services provider’s stock after selling 17,860 shares during the period. Republic Services accounts for about 1.0% of Gabelli Funds LLC’s holdings, making the stock its 15th largest holding. Gabelli Funds LLC owned about 0.20% of Republic Services worth $127,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arcadia Investment Management Corp MI raised its stake 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 in the last quarter. R Squared Ltd purchased a new position in Republic Services during the fourth quarter valued at $32,000. New Age Alpha Advisors LLC lifted its position in Republic Services by 70.2% during 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 shares of Republic Services during the fourth quarter valued at approximately $45,000. Finally, Bank of Jackson Hole Trust bought a new position in Republic Services during the 4th quarter valued at approximately $48,000. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Jefferies Financial Group raised their price target on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. UBS Group increased their target price on Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.13.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Republic Services Trading Up 0.8 %

Shares of Republic Services stock opened at $245.79 on Tuesday. The company has a market capitalization of $76.76 billion, a P/E ratio of 37.87, a P/E/G ratio of 3.64 and a beta of 0.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a fifty day moving average of $233.74 and a 200 day moving average of $217.10. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $249.73.

Republic Services (NYSE:RSG) last issued 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. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

About Republic Services

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.