Republic Services, Inc. (NYSE:RSG) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 73.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,506 shares of the business services provider’s stock after selling 70,142 shares during the period. Public Sector Pension Investment Board’s holdings in Republic Services were worth $6,177,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RSG. GAMMA Investing LLC boosted its stake in shares of Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after purchasing an additional 2,220,487 shares during the period. C WorldWide Group Holding A S purchased a new position in shares of Republic Services in the first quarter valued at approximately $230,013,000. Nuveen LLC purchased a new position in shares of Republic Services in the first quarter valued at approximately $198,685,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock valued at $1,069,836,000 after purchasing an additional 499,237 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Republic Services by 170.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock valued at $117,559,000 after purchasing an additional 368,395 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 0.2%

Shares of NYSE:RSG opened at $232.88 on Friday. The company has a market capitalization of $72.71 billion, a PE ratio of 34.45, a P/E/G ratio of 3.63 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The firm has a 50 day simple moving average of $241.62 and a 200-day simple moving average of $239.81.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio is presently 34.32%.

Analyst Ratings Changes

RSG has been the subject of several recent research reports. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Seaport Res Ptn raised shares of Republic Services to a “strong-buy” rating in a research note on Tuesday, May 6th. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, April 25th. Raymond James Financial lifted their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer lifted their price target on shares of Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $262.17.

Republic Services 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.