Jennison Associates LLC Cuts Stake in Republic Services, Inc. $RSG

Jennison Associates LLC lessened its position in Republic Services, Inc. (NYSE:RSG) by 74.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,501 shares of the business services provider’s stock after selling 135,250 shares during the period. Jennison Associates LLC’s holdings in Republic Services were worth $10,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC lifted its position in Republic Services by 47.3% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 52 shares during the period. Heartland Bank & Trust Co raised its stake in shares of Republic Services by 3.2% during the 1st quarter. Heartland Bank & Trust Co now owns 2,158 shares of the business services provider’s stock worth $473,000 after buying an additional 67 shares in the last quarter. Kera Capital Partners Inc. raised its stake in shares of Republic Services by 50.6% during the 1st quarter. Kera Capital Partners Inc. now owns 1,782 shares of the business services provider’s stock worth $390,000 after buying an additional 599 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Republic Services by 1.0% in the 1st quarter. Assetmark Inc. now owns 62,097 shares of the business services provider’s stock valued at $13,600,000 after buying an additional 619 shares during the period. Finally, C WorldWide Group Holding A S boosted its stake in shares of Republic Services by 62.5% in the first quarter. C WorldWide Group Holding A S now owns 913,159 shares of the business services provider’s stock valued at $200,000,000 after buying an additional 351,378 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the purchase, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RSG shares. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays raised their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.89.

Republic Services Stock Down 2.8%

RSG opened at $214.37 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $65.95 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.69 and a beta of 0.40. Republic Services, Inc. has a one year low of $196.41 and a one year high of $246.25. The business’s fifty day moving average is $211.64 and its two-hundred day moving average is $214.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $1.58 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 35.87%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.