Teachers Retirement System of The State of Kentucky lessened its stake in Republic Services, Inc. (NYSE:RSG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,900 shares of the business services provider’s stock after selling 2,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Republic Services were worth $1,548,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of RSG. Patten Group Inc. increased its position in Republic Services by 279.6% during the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 13,839 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Republic Services by 9.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock valued at $1,230,000 after purchasing an additional 1,544 shares during the period. Mackenzie Financial Corp purchased a new position in Republic Services during the 3rd quarter valued at about $1,897,000. CGOV Asset Management increased its position in Republic Services by 25.0% during the 4th quarter. CGOV Asset Management now owns 10,000 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 2,000 shares during the period. Finally, California Public Employees Retirement System increased its position in Republic Services by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 920,619 shares of the business services provider’s stock valued at $60,816,000 after purchasing an additional 19,306 shares during the period. 61.06% of the stock is currently owned by institutional investors.
A number of research analysts have commented on RSG shares. Zacks Investment Research downgraded shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. Bank of America raised their target price on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, February 5th. BMO Capital Markets cut their target price on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Finally, Credit Suisse Group cut their target price on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $69.75.
Republic Services, Inc. (NYSE:RSG) opened at $68.61 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.55. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $69.40. The stock has a market cap of $22,774.24, a P/E ratio of 18.10, a PEG ratio of 2.18 and a beta of 0.55.
Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. research analysts forecast that Republic Services, Inc. will post 3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 29th. Republic Services’s payout ratio is currently 36.41%.
In other news, CAO Brian A. Goebel sold 2,000 shares of Republic Services stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $67.57, for a total value of $135,140.00. Following the transaction, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at approximately $452,448.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tomago Collins sold 4,500 shares of Republic Services stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $67.95, for a total transaction of $305,775.00. Following the completion of the transaction, the director now directly owns 13,441 shares in the company, valued at approximately $913,315.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,128 shares of company stock worth $1,553,897. Insiders own 0.40% of the company’s stock.
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Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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