New York State Teachers Retirement System trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,250 shares of the business services provider’s stock after selling 10,923 shares during the quarter. New York State Teachers Retirement System’s holdings in Republic Services were worth $22,928,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. FTB Advisors Inc. bought a new stake in shares of Republic Services during the fourth quarter valued at approximately $25,000. Dubuque Bank & Trust Co. grew its stake in shares of Republic Services by 74.5% during the first quarter. Dubuque Bank & Trust Co. now owns 480 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 205 shares during the last quarter. CWM LLC grew its stake in shares of Republic Services by 109.9% during the first quarter. CWM LLC now owns 468 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 245 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of Republic Services during the first quarter valued at approximately $40,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Republic Services by 13,200.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,319,168 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 3,294,212 shares during the last quarter. 60.75% of the stock is currently owned by institutional investors and hedge funds.
In other Republic Services news, CFO Charles F. Serianni sold 9,500 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $82.30, for a total value of $781,850.00. Following the sale, the chief financial officer now directly owns 53,700 shares in the company, valued at $4,419,510. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald W. Slager sold 69,966 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.66, for a total transaction of $5,783,389.56. Following the completion of the sale, the chief executive officer now owns 287,610 shares in the company, valued at $23,773,842.60. The disclosure for this sale can be found here. Insiders sold 151,575 shares of company stock worth $12,472,125 over the last 90 days. 0.30% of the stock is currently owned by company insiders.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Republic Services had a net margin of 10.25% and a return on equity of 12.72%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Republic Services’s revenue was up 1.8% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 3.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.50 annualized dividend and a yield of 1.77%. Republic Services’s dividend payout ratio is currently 48.54%.
RSG has been the topic of several research analyst reports. Zacks Investment Research cut shares of Republic Services from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. UBS Group increased their price target on shares of Republic Services from $79.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. KeyCorp initiated coverage on shares of Republic Services in a research note on Monday, February 4th. They set a “sector weight” rating and a $77.73 price target on the stock. Finally, Stifel Nicolaus cut shares of Republic Services from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Republic Services currently has a consensus rating of “Hold” and a consensus target price of $81.97.
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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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