Republic Services, Inc. $RSG Holdings Trimmed by Teachers Retirement System of The State of Kentucky

by · The Markets Daily

Teachers Retirement System of The State of Kentucky cut its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 12.6% during the 1st quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Republic Services by 1.7% in the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after purchasing an additional 166,474 shares in the last quarter. Capital World Investors boosted its holdings in Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its position in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after buying an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after buying an additional 807,525 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Republic Services during the 4th quarter valued at $617,165,000. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RSG shares. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Citigroup lifted their price target on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, UBS Group reduced their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Read Our Latest Stock Report on Republic Services

Insider Activity at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 987,150 shares of company stock valued at $202,366,682 over the last three months. Insiders own 0.12% of the company’s stock.

Republic Services Price Performance

RSG opened at $223.41 on Tuesday. 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, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The stock has a fifty day moving average price of $209.34 and a 200 day moving average price of $214.49. The stock has a market cap of $68.73 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.68 and a beta of 0.40.

Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. Analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services’s payout ratio is 35.87%.

About Republic Services

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG – Free Report).