New York State Common Retirement Fund Sells 37,678 Shares of Republic Services, Inc. (NYSE:RSG)

New York State Common Retirement Fund lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 owned 0.13% of Republic Services worth $66,665,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its stake in Republic Services by 56.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Republic Services during the 4th quarter worth $34,000. Millburn Ridgefield Corp bought a new position in Republic Services during the 3rd quarter worth $36,000. Catalyst Capital Advisors LLC bought a new position in shares of Republic Services in the 3rd quarter valued at $36,000. Finally, BKM Wealth Management LLC bought a new position in shares of Republic Services in the 4th quarter valued at $37,000. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.6 %

Shares of RSG opened at $190.62 on Wednesday. The company has a market capitalization of $60.04 billion, a PE ratio of 34.85, a PEG ratio of 3.35 and a beta of 0.68. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.99. The stock’s 50-day moving average price is $186.59 and its two-hundred day moving average price is $169.85. 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 (NYSE:RSG) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. On average, analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RSG shares. Scotiabank started coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research note on Friday, March 15th. Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Royal Bank of Canada began coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

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.