Occudo Quantitative Strategies LP Acquires 4,580 Shares of Republic Services, Inc. (NYSE:RSG)

Occudo Quantitative Strategies LP increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 45.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,744 shares of the business services provider’s stock after purchasing an additional 4,580 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Republic Services were worth $2,966,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after acquiring an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after acquiring an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after acquiring an additional 499,237 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after acquiring an additional 57,616 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services during the 4th quarter worth approximately $553,039,000. 57.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of recent analyst reports. UBS Group boosted their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. BMO Capital Markets boosted their target price on shares of Republic Services from $260.00 to $268.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a report on Tuesday, March 4th. Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.00.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Republic Services stock opened at $241.38 on Tuesday. The business has a 50 day moving average of $240.23 and a 200-day moving average of $223.12. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $253.54. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company has a market capitalization of $75.43 billion, a P/E ratio of 37.19, a P/E/G ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s payout ratio is presently 34.99%.

Republic Services 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.