Republic Services, Inc. (NYSE:RSG) Stake Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 11.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 449,602 shares of the business services provider’s stock after selling 57,665 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Republic Services worth $90,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the period. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter valued at $29,000. Webster Bank N. A. purchased a new stake in Republic Services in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Republic Services during the 2nd quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services during the second quarter worth approximately $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Scotiabank began coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. CIBC raised their price target on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Performance

NYSE RSG opened at $198.58 on Friday. The company’s fifty day moving average is $203.43 and its two-hundred day moving average is $196.74. The firm has a market capitalization of $62.37 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 3.17 and a beta of 0.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59. Republic Services, Inc. has a 52-week low of $148.36 and a 52-week high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that Republic Services, Inc. will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

About Republic Services

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.