Jennison Associates LLC Has $34.15 Million Position in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 235.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,050 shares of the business services provider’s stock after buying an additional 145,244 shares during the period. Jennison Associates LLC owned about 0.07% of Republic Services worth $34,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC boosted its position in Republic Services by 56.3% during the 3rd 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 acquired a new stake in shares of Republic Services during the fourth quarter worth approximately $34,000. Millburn Ridgefield Corp acquired a new position in Republic Services in the 3rd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new stake in Republic Services in the 3rd quarter worth approximately $36,000. Finally, BKM Wealth Management LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $191.99 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99. The company’s fifty day moving average price is $186.86 and its 200 day moving average price is $170.01. The company has a market capitalization of $60.47 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. Republic Services’s payout ratio is 39.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RSG shares. UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and upped their price target for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. The Goldman Sachs Group raised their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup boosted their price target on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Jefferies Financial Group raised their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets boosted their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Insider Activity at Republic Services

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

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.