New York Life Investment Management LLC Lowers Position in Republic Services, Inc. (NYSE:RSG)

New York Life Investment Management LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 38.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,922 shares of the business services provider’s stock after selling 17,891 shares during the period. New York Life Investment Management LLC’s holdings in Republic Services were worth $4,770,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. FinTrust Capital Advisors LLC lifted its holdings in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Republic Services during the 4th quarter valued at approximately $34,000. BKM Wealth Management LLC bought a new stake in shares of Republic Services in the 4th quarter worth approximately $37,000. Bruce G. Allen Investments LLC bought a new position in Republic Services during the fourth quarter valued at $41,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Republic Services in the third quarter valued at $36,000. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Scotiabank boosted their price objective on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. UBS Group lifted their price target on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup lifted their target price on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, BMO Capital Markets upped their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.00.

Republic Services Price Performance

Shares of Republic Services stock opened at $185.51 on Friday. The stock has a market capitalization of $58.42 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.25 and a beta of 0.67. The company has a fifty day moving average of $188.01 and a 200-day moving average of $171.68. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $196.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.53.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.02 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.15%. Republic Services’s payout ratio is currently 37.54%.

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.