Cresset Asset Management LLC Sells 15,463 Shares of Republic Services, Inc. (NYSE:RSG)

Cresset Asset Management LLC decreased its stake in Republic Services, Inc. (NYSE:RSG) by 59.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,712 shares of the business services provider’s stock after selling 15,463 shares during the period. Cresset Asset Management LLC’s holdings in Republic Services were worth $2,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after purchasing an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Republic Services by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after acquiring an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock valued at $1,069,836,000 after acquiring an additional 499,237 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after purchasing an additional 57,616 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Republic Services in the 4th quarter valued at about $553,039,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. CIBC upgraded 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. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Five 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.00.

Republic Services Trading Down 0.3 %

RSG opened at $248.56 on Friday. 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 $77.67 billion, a PE ratio of 38.30, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company’s 50-day moving average is $240.12 and its 200 day moving average is $222.55.

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, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the company earned $1.45 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s payout ratio is currently 34.99%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate 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.