Massachusetts Financial Services Co. MA Has $38.73 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Massachusetts Financial Services Co. MA lessened its position in Republic Services, Inc. (NYSE:RSG) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,532 shares of the business services provider’s stock after selling 82,933 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.06% of Republic Services worth $38,734,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. UBS Group boosted their price objective on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group raised their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $235.29 on Friday. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The firm has a market capitalization of $73.48 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 3.64 and a beta of 0.62. The stock’s 50 day moving average price is $230.70 and its two-hundred day moving average price is $215.14. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its quarterly earnings results 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 the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.41 EPS. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 0.99%. Republic Services’s dividend payout ratio is currently 35.75%.

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.