Renaissance Technologies LLC Decreases Position in Republic Services, Inc. (NYSE:RSG)

Renaissance Technologies LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 41.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 304,361 shares of the business services provider’s stock after selling 216,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Republic Services were worth $61,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI lifted 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 valued at $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $32,000. New Age Alpha Advisors LLC raised its stake in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $238.92 on Thursday. The firm has a market cap of $74.61 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average is $232.38 and its two-hundred day moving average is $216.14.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business earned $1.41 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 0.97%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the 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 sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.50.

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.