New Mexico Educational Retirement Board Sells 300 Shares of Republic Services, Inc. (NYSE:RSG)

New Mexico Educational Retirement Board decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,695 shares of the business services provider’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Republic Services were worth $1,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in Republic Services during the third quarter worth about $25,000. R Squared Ltd bought a new stake in Republic Services during the fourth quarter worth about $32,000. Truvestments Capital LLC bought a new position in shares of Republic Services in the third quarter worth about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Republic Services in the third quarter worth about $39,000. Finally, Kieckhefer Group LLC bought a new position in shares of Republic Services in the fourth quarter worth about $50,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $230.98 on Monday. The stock’s 50 day moving average price is $210.94 and its two-hundred day moving average price is $207.43. The stock has a market capitalization of $72.33 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a 52-week low of $177.03 and a 52-week high of $232.52.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same quarter in the previous year, the business posted $1.41 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RSG shares. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday. Morgan Stanley upped their price objective on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, CIBC upped their price objective on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.38.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

About Republic Services

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.