Aviva PLC Lowers Stake in Republic Services, Inc. (NYSE:RSG)

Aviva PLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 52.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,909 shares of the business services provider’s stock after selling 144,034 shares during the quarter. Aviva PLC’s holdings in Republic Services were worth $26,537,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Arcadia Investment Management Corp MI increased its holdings in Republic Services by 200.0% in 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 in the last quarter. R Squared Ltd acquired a new position in shares of Republic Services during the 4th quarter worth about $32,000. New Age Alpha Advisors LLC boosted its holdings 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 worth $36,000 after buying an additional 73 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Republic Services during the 4th quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Republic Services during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $235.29 on Monday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $249.73. 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 50 day moving average price of $230.70 and a 200 day moving average price of $215.25. The stock has a market capitalization of $73.48 billion, a P/E ratio of 36.25, a PEG ratio of 3.64 and a beta of 0.62.

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

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Insider Activity at Republic Services

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Morgan Stanley boosted their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

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.