Moore Capital Management LP Buys New Stake in Republic Services, Inc. (NYSE:RSG)

Moore Capital Management LP bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,441 shares of the business services provider’s stock, valued at approximately $6,728,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI increased its position in shares of Republic Services by 200.0% during the fourth 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 shares of Republic Services during the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC increased its stake in shares of Republic Services by 70.2% in the fourth 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 bought a new position in Republic Services during the 4th quarter valued at $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in Republic Services during the 4th quarter worth $48,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of analyst reports. Stifel Nicolaus lifted 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. Jefferies Financial Group raised 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. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Morgan Stanley upped their price objective on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.00.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $248.56 on Monday. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $253.54. 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 stock has a market cap of $77.67 billion, a P/E ratio of 38.30, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a 50 day moving average of $240.12 and a 200 day moving average of $222.83.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm posted $1.45 EPS. Republic Services’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s payout ratio is presently 34.99%.

Republic Services Company 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.