Republic Services, Inc. (NYSE:RSG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,928 shares of the business services provider’s stock after selling 6,237 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Republic Services were worth $17,418,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Key Financial Inc lifted its holdings in shares of Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Republic Services in the first quarter valued at $49,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.2%

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

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

Republic Services Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on RSG. William Blair restated an “outperform” rating on shares of Republic Services in a report on Friday, April 25th. Citigroup increased their price objective on Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their price objective on Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Wall Street Zen lowered Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Raymond James Financial increased their price objective on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $262.17.

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.