State of Tennessee Department of Treasury Sells 2,791 Shares of Republic Services, Inc. (NYSE:RSG)

State of Tennessee Department of Treasury lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,091 shares of the business services provider’s stock after selling 2,791 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Republic Services were worth $10,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. Arcadia Investment Management Corp MI increased its position in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services in the fourth quarter worth $32,000. New Age Alpha Advisors LLC raised its holdings in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in Republic Services in the fourth quarter worth $45,000. Finally, Bank of Jackson Hole Trust bought a new stake in Republic Services in the fourth quarter valued at $48,000. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

RSG stock opened at $241.26 on Thursday. The stock has a market capitalization of $75.34 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The stock’s 50 day simple moving average is $236.37 and its 200 day simple moving average is $218.88. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Stifel Nicolaus increased their target price on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Jefferies Financial Group lifted their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Finally, Truist Financial boosted their target price on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $240.38.

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.