Canopy Partners LLC Has $437,000 Holdings in Republic Services, Inc. (NYSE:RSG)

Canopy Partners LLC trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,173 shares of the business services provider’s stock after selling 66 shares during the quarter. Canopy Partners LLC’s holdings in Republic Services were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI grew its holdings in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd bought a new stake in Republic Services during the fourth quarter worth about $32,000. New Age Alpha Advisors LLC increased its holdings in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after buying an additional 73 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Republic Services during the 4th quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Republic Services in the fourth quarter valued at $48,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

RSG has been the topic of a number of research analyst reports. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a report on Tuesday, March 4th. Morgan Stanley raised their price target on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. UBS Group lifted their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Stock Performance

Shares of Republic Services stock opened at $235.29 on Monday. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $249.73. The stock’s fifty day simple moving average is $230.70 and its 200 day simple moving average is $215.25. The company has a market capitalization of $73.48 billion, a PE ratio of 36.25, a PEG ratio of 3.64 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $1.41 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 0.99%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

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.