New York State Common Retirement Fund Decreases Stake in Republic Services, Inc. $RSG

New York State Common Retirement Fund cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 264,185 shares of the business services provider’s stock after selling 26,756 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Republic Services worth $60,625,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new stake in shares of Republic Services in the 3rd quarter worth approximately $25,000. NewSquare Capital LLC boosted its position in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in Republic Services in the second quarter valued at $33,000. Hilltop National Bank purchased a new position in shares of Republic Services in the second quarter valued at $47,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of Republic Services by 154.1% during the 2nd quarter. Tradewinds Capital Management LLC now owns 216 shares of the business services provider’s stock worth $53,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RSG shares. Raymond James Financial restated an “outperform” rating and set a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. National Bankshares dropped their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Jefferies Financial Group set a $248.00 target price on Republic Services and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Republic Services in a report on Monday, December 29th. Finally, Robert W. Baird set a $240.00 price target on Republic Services in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $248.82.

Insiders Place Their Bets

In related news, Director Katharine Weymouth acquired 478 shares of Republic Services stock in a transaction on Tuesday, December 9th. The shares were bought at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director directly owned 5,740 shares in the company, valued at $1,202,300.40. This trade represents a 9.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $215.28 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $66.64 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.55. Republic Services, Inc. has a one year low of $201.42 and a one year high of $258.75. The company has a 50 day moving average price of $213.54 and a 200 day moving average price of $222.19.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.