California State Teachers Retirement System Sells 7,363 Shares of Republic Services, Inc. $RSG

California State Teachers Retirement System trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 2.8% in the first quarter, Holdings Channel reports. The fund owned 251,568 shares of the business services provider’s stock after selling 7,363 shares during the period. California State Teachers Retirement System’s holdings in Republic Services were worth $55,098,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after buying an additional 8,547 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Republic Services by 23.2% in the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock valued at $4,329,000 after buying an additional 3,303 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Republic Services by 3.6% in the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after buying an additional 1,044 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Republic Services by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after acquiring an additional 688 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after acquiring an additional 4,729 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 987,150 shares of company stock valued at $202,366,682 over the last three months. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RSG. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Citigroup lifted their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Republic Services in a report on Friday, July 24th. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Stock Performance

Shares of RSG opened at $211.32 on Friday. The stock has a market capitalization of $65.01 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 3.66 and a beta of 0.40. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $238.62. The firm has a fifty day simple moving average of $212.54 and a 200 day simple moving average of $215.01. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts forecast that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 35.87%.

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.