Retirement Systems of Alabama Decreases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Retirement Systems of Alabama reduced its position in Republic Services, Inc. (NYSE:RSG) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,074 shares of the business services provider’s stock after selling 1,416 shares during the quarter. Retirement Systems of Alabama’s holdings in Republic Services were worth $7,433,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RSG. JPMorgan Chase & Co. boosted its stake in Republic Services by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock worth $948,971,000 after purchasing an additional 44,512 shares in the last quarter. Morgan Stanley lifted its stake in shares of Republic Services by 4.1% during the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after buying an additional 197,654 shares during the period. Nordea Investment Management AB grew its holdings in shares of Republic Services by 2.9% during the third quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock valued at $547,473,000 after buying an additional 107,499 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after acquiring an additional 13,166 shares during the period. Finally, Northern Trust Corp raised its stake in Republic Services by 4.8% in the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after acquiring an additional 109,437 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of Republic Services stock opened at $185.51 on Friday. The firm has a market cap of $58.42 billion, a PE ratio of 32.55, a P/E/G ratio of 3.24 and a beta of 0.67. Republic Services, Inc. has a twelve month low of $140.07 and a twelve month high of $196.76. The company has a quick ratio of 0.56, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $188.02 and a 200 day moving average price of $171.94.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s payout ratio is 37.54%.

Analysts Set New Price Targets

Several analysts have weighed in on RSG shares. The Goldman Sachs Group boosted their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their price target on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Scotiabank lifted their price objective on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday. Citigroup increased their price objective on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada began coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.