Allianz Asset Management GmbH Has $111.79 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Allianz Asset Management GmbH cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555,675 shares of the business services provider’s stock after selling 15,696 shares during the period. Allianz Asset Management GmbH’s holdings in Republic Services were worth $111,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares during the last quarter. TCW Group Inc. grew its holdings in Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after acquiring an additional 13,138 shares during the period. Avanza Fonder AB bought a new stake in shares of Republic Services during the 4th quarter valued at $4,430,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Republic Services in the 3rd quarter worth $6,102,000. Finally, Lifeworks Advisors LLC grew its stake in shares of Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after purchasing an additional 19,698 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RSG. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.75.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on 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 directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Stock Down 0.1 %

Shares of Republic Services stock opened at $230.73 on Friday. The firm has a market cap of $72.05 billion, a PE ratio of 35.55, a P/E/G ratio of 3.62 and a beta of 0.74. The business’s 50 day simple moving average is $212.87 and its 200 day simple moving average is $208.51. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $232.52.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the company earned $1.41 earnings per share. On average, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 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.