Kentucky Retirement Systems Has $2.97 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Kentucky Retirement Systems lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,531 shares of the business services provider’s stock after selling 832 shares during the period. Kentucky Retirement Systems’ holdings in Republic Services were worth $2,973,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Unigestion Holding SA grew its position in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after purchasing an additional 122,044 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after buying an additional 73,651 shares during the period. TCW Group Inc. acquired a new position in Republic Services during the 4th quarter worth $17,903,000. Hsbc Holdings PLC boosted its holdings in Republic Services by 8.7% during the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after acquiring an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after purchasing an additional 55,668 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on RSG. The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer cut their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada raised their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday. Raymond James reduced their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.69.

Insider Activity

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Katharine Weymouth acquired 540 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Trading Up 1.3 %

RSG stock traded up $2.54 during trading on Monday, hitting $192.84. The company had a trading volume of 301,803 shares, compared to its average volume of 1,206,373. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.18 and a beta of 0.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $192.24 and a 200-day moving average price of $186.16. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $206.54.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.17 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.20%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 37.54%.

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.