Republic Services, Inc. (NYSE:RSG) Stock Holdings Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 4.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,188 shares of the business services provider’s stock after selling 1,480 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Republic Services were worth $5,872,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares during the last quarter. DnB Asset Management AS increased its holdings in shares of Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock worth $14,672,000 after acquiring an additional 28,764 shares during the period. Avanza Fonder AB acquired a new stake in shares of Republic Services in the 4th quarter worth about $4,430,000. Czech National Bank increased its holdings in shares of Republic Services by 6.1% in the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock worth $8,879,000 after acquiring an additional 2,548 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in shares of Republic Services in the 4th quarter worth about $790,000. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RSG. Truist Financial increased their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $266.00 target price on shares of Republic Services in a research note on Friday. Morgan Stanley raised their target price on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, BMO Capital Markets raised their target price on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.19.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were 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 of the company’s stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $246.29 on Tuesday. The company’s fifty day moving average is $237.20 and its two-hundred day moving average is $219.97. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The company has a market cap of $76.96 billion, a P/E ratio of 37.95, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.45 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 34.99%.

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.