Teachers Retirement System of The State of Kentucky decreased its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,544 shares of the business services provider’s stock after selling 4,406 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Republic Services were worth $6,690,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the business. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at $25,000. Prosperity Bancshares Inc bought a new position in Republic Services during the 4th quarter valued at $30,000. Sound Income Strategies LLC acquired a new position in Republic Services during the 4th quarter worth $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Republic Services in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.
Republic Services Stock Performance
Shares of NYSE RSG opened at $223.41 on Tuesday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The company has a market cap of $68.73 billion, a PE ratio of 32.05, a P/E/G ratio of 3.68 and a beta of 0.40. The stock has a 50 day simple moving average of $209.34 and a 200-day simple moving average of $214.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.
Republic Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is currently 35.87%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on RSG. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company boosted their price target on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.89.
Check Out Our Latest Research Report on RSG
Insider Activity
In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider directly owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased 987,150 shares of company stock valued at $202,366,682 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.
About Republic Services
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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