New York State Common Retirement Fund Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

New York State Common Retirement Fund trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 404,248 shares of the business services provider’s stock after selling 37,678 shares during the period. New York State Common Retirement Fund’s holdings in Republic Services were worth $66,665,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PDS Planning Inc purchased a new stake in shares of Republic Services during the fourth quarter worth about $221,000. Foster & Motley Inc. purchased a new stake in shares of Republic Services during the fourth quarter worth about $221,000. RWA Wealth Partners LLC purchased a new stake in shares of Republic Services during the fourth quarter worth about $357,000. Jennison Associates LLC boosted its holdings in shares of Republic Services by 235.0% during the fourth quarter. Jennison Associates LLC now owns 207,050 shares of the business services provider’s stock worth $34,145,000 after purchasing an additional 145,244 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in shares of Republic Services by 7.7% during the fourth quarter. OLD National Bancorp IN now owns 5,998 shares of the business services provider’s stock worth $989,000 after purchasing an additional 431 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.6 %

NYSE:RSG opened at $190.62 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.99. The company has a market cap of $60.04 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 3.35 and a beta of 0.68. The company has a 50 day simple moving average of $186.59 and a two-hundred day simple moving average of $169.85.

Republic Services (NYSE:RSG) last issued its quarterly 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. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. Research analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Analysts Set New Price Targets

RSG has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Scotiabank initiated coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price objective for the company. Citigroup raised their price objective on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Oppenheimer raised their price objective on shares of Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, UBS Group lowered shares of Republic Services from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $175.00 to $195.00 in a report on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Republic Services 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.