Summit Global Investments Decreases Holdings in Republic Services, Inc. (NYSE:RSG)

Summit Global Investments decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 5.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,884 shares of the business services provider’s stock after selling 911 shares during the period. Summit Global Investments’ holdings in Republic Services were worth $3,195,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of Republic Services during the third quarter valued at about $25,000. Arcadia Investment Management Corp MI grew its position in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in Republic Services in the 4th quarter worth approximately $32,000. Truvestments Capital LLC bought a new stake in Republic Services in the third quarter valued at approximately $34,000. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $232.95 on Friday. The business has a fifty day simple moving average of $224.90 and a two-hundred day simple moving average of $212.62. The firm has a market capitalization of $72.75 billion, a P/E ratio of 35.89, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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 business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. UBS Group lifted their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group boosted 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. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Five research 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’s stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was 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 $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.