Picton Mahoney Asset Management Has $2.45 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Picton Mahoney Asset Management lowered its stake in Republic Services, Inc. (NYSE:RSG) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,190 shares of the business services provider’s stock after selling 100 shares during the period. Picton Mahoney Asset Management’s holdings in Republic Services were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. GSA Capital Partners LLP lifted its position in shares of Republic Services by 80.7% in the third quarter. GSA Capital Partners LLP now owns 4,103 shares of the business services provider’s stock worth $824,000 after buying an additional 1,833 shares during the last quarter. Huntington National Bank increased its stake in shares of Republic Services by 1.1% in the third quarter. Huntington National Bank now owns 11,222 shares of the business services provider’s stock worth $2,254,000 after purchasing an additional 123 shares during the period. KBC Group NV increased its stake in shares of Republic Services by 1.9% in the third quarter. KBC Group NV now owns 90,490 shares of the business services provider’s stock worth $18,174,000 after purchasing an additional 1,660 shares during the period. Metis Global Partners LLC increased its stake in shares of Republic Services by 1.6% in the third quarter. Metis Global Partners LLC now owns 6,730 shares of the business services provider’s stock worth $1,352,000 after purchasing an additional 105 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Republic Services by 9.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,155 shares of the business services provider’s stock worth $1,236,000 after purchasing an additional 534 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Up 1.2 %

Shares of RSG opened at $232.08 on Friday. The company has a market capitalization of $72.48 billion, a P/E ratio of 35.76, a PEG ratio of 3.64 and a beta of 0.73. 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 one year low of $180.91 and a one year high of $240.95. The business’s 50 day simple moving average is $221.95 and its 200-day simple moving average is $211.71.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price target on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.