Sawgrass Asset Management LLC Trims Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Sawgrass Asset Management LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 34,057 shares of the business services provider’s stock after selling 2,077 shares during the period. Sawgrass Asset Management LLC’s holdings in Republic Services were worth $6,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. increased its position in Republic Services by 2.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 48 shares during the period. Simmons Bank increased its position in Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 51 shares during the period. Access Financial Services Inc. increased its position in Republic Services by 0.8% in the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. increased its position in Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 54 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $223.38 on Thursday. Republic Services, Inc. has a 1 year low of $172.23 and a 1 year high of $224.45. The business has a fifty day simple moving average of $210.32 and a 200 day simple moving average of $206.82. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market cap of $69.95 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 3.24 and a beta of 0.74.

Republic Services Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.04%. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RSG shares. Morgan Stanley increased their price target on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. CIBC increased their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.38.

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.