Retirement Systems of Alabama Sells 562 Shares of Republic Services, Inc. (NYSE:RSG)

Retirement Systems of Alabama lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,593 shares of the business services provider’s stock after selling 562 shares during the period. Retirement Systems of Alabama’s holdings in Republic Services were worth $8,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in Republic Services in the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in shares of Republic Services in the third quarter valued at $31,000. Truvestments Capital LLC bought a new stake in Republic Services during the third quarter worth $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Republic Services in the second quarter valued at $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Down 0.4 %

RSG stock opened at $208.10 on Tuesday. The company has a market cap of $65.17 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 3.30 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 52 week low of $161.19 and a 52 week high of $220.58. The business has a 50-day simple moving average of $208.72 and a 200 day simple moving average of $202.17.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RSG shares. Morgan Stanley upped their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. CIBC raised their price objective on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. William Blair started coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $220.06.

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.