OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires Shares of 78,800 Republic Services, Inc. (NYSE:RSG)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, Holdings Channel reports. The fund acquired 78,800 shares of the business services provider’s stock, valued at approximately $15,853,000. Republic Services comprises about 1.3% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its holdings 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 valued at $27,000 after purchasing 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 $32,000. New Age Alpha Advisors LLC grew its stake in shares of 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 valued at $36,000 after buying an additional 73 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Republic Services during the 4th quarter worth $45,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Republic Services during the 4th quarter worth about $48,000. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RSG has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Raymond James restated an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Robert W. Baird increased their price objective on Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Finally, Morgan Stanley raised their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction 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 trade 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 is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Stock Down 2.9%

Shares of NYSE RSG opened at $241.38 on Tuesday. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $253.54. The firm has a market cap of $75.43 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $240.23 and its 200-day simple moving average is $223.12.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. Republic Services’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced 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 0.96%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s payout ratio is currently 34.99%.

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.