Polar Asset Management Partners Inc. Purchases 15,400 Shares of Republic Services, Inc. (NYSE:RSG)

Polar Asset Management Partners Inc. boosted its position in Republic Services, Inc. (NYSE:RSG) by 194.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,300 shares of the business services provider’s stock after acquiring an additional 15,400 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Republic Services were worth $4,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RSG. McGlone Suttner Wealth Management Inc. grew its stake in shares of Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after buying an additional 48 shares during the last quarter. FORA Capital LLC grew its stake in shares of Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock worth $1,541,000 after buying an additional 50 shares during the last quarter. Access Financial Services Inc. grew its stake in shares of Republic Services by 0.8% in the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock worth $1,243,000 after purchasing an additional 51 shares during the last quarter. Tower Wealth Partners Inc. grew its stake in shares of Republic Services by 3.3% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after purchasing an additional 54 shares during the last quarter. Finally, Umpqua Bank grew its stake in shares of Republic Services by 3.2% in the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock worth $374,000 after purchasing an additional 56 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 2.9%

RSG opened at $244.95 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $253.54. The firm has a market capitalization of $76.55 billion, a PE ratio of 37.74, a P/E/G ratio of 3.64 and a beta of 0.66. The company’s 50-day moving average is $240.68 and its 200 day moving average is $223.63.

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

Republic Services Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. Republic Services’s dividend payout ratio is presently 34.99%.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Seaport Res Ptn raised shares of Republic Services to a “strong-buy” rating in a research note on Tuesday, May 6th. Scotiabank boosted their price objective on shares of Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. BMO Capital Markets boosted their target price on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, Citigroup boosted their target price on shares of Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $249.00.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

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.