Republic Services, Inc. (NYSE:RSG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,267,796 shares of the business services provider’s stock after selling 14,976 shares during the period. California Public Employees Retirement System’s holdings in Republic Services were worth $209,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Republic Services by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after acquiring an additional 44,512 shares during the period. Morgan Stanley boosted its holdings in Republic Services by 4.1% in the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after buying an additional 197,654 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Republic Services by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after buying an additional 107,499 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock worth $531,237,000 after buying an additional 13,166 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Republic Services by 4.8% in the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after buying an additional 109,437 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Jefferies Financial Group raised their target price on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada assumed coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price on the stock. Truist Financial raised their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets raised their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $0.25 on Tuesday, reaching $192.01. The company’s stock had a trading volume of 141,576 shares, compared to its average volume of 1,188,235. The stock’s 50-day moving average is $186.29 and its two-hundred day moving average is $169.53. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $192.99. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $60.48 billion, a P/E ratio of 35.06, a PEG ratio of 3.32 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s payout ratio is currently 39.12%.

Insider Activity at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

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.