Teacher Retirement System of Texas lessened its position in Republic Services, Inc. (NYSE:RSG) by 16.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 595,925 shares of the business services provider’s stock after selling 120,234 shares during the quarter. Teacher Retirement System of Texas’ holdings in Republic Services were worth $47,900,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. SlateStone Wealth LLC purchased a new stake in shares of Republic Services in the 1st quarter valued at approximately $1,207,000. Sawyer & Company Inc lifted its position in shares of Republic Services by 74.6% in the 1st quarter. Sawyer & Company Inc now owns 8,636 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 3,690 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Republic Services by 15.9% in the 1st quarter. Toronto Dominion Bank now owns 149,930 shares of the business services provider’s stock valued at $12,048,000 after acquiring an additional 20,622 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Republic Services by 4.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 20,402 shares of the business services provider’s stock valued at $1,640,000 after acquiring an additional 911 shares in the last quarter. Finally, Goelzer Investment Management Inc. purchased a new stake in shares of Republic Services in the 1st quarter valued at approximately $899,000. Institutional investors and hedge funds own 60.95% of the company’s stock.
A number of research firms have issued reports on RSG. Royal Bank of Canada began coverage on shares of Republic Services in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $87.00 target price for the company. Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Monday, April 29th. Bank of America reiterated a “neutral” rating and issued a $85.00 target price (up previously from $79.00) on shares of Republic Services in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, UBS Group increased their target price on shares of Republic Services from $79.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $81.97.
Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 25th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Republic Services, Inc. will post 3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 1.79%. Republic Services’s payout ratio is 48.54%.
In other news, EVP Brian A. Bales sold 22,831 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $82.67, for a total transaction of $1,887,438.77. Following the transaction, the executive vice president now owns 23,804 shares in the company, valued at approximately $1,967,876.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald W. Slager sold 69,966 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.66, for a total transaction of $5,783,389.56. Following the transaction, the chief executive officer now owns 287,610 shares in the company, valued at approximately $23,773,842.60. The disclosure for this sale can be found here. Insiders have sold a total of 151,575 shares of company stock worth $12,472,125 in the last 90 days. 0.30% of the stock is owned by insiders.
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Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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