Kentucky Retirement Systems Grows Position in Republic Services, Inc. $RSG

Kentucky Retirement Systems increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 75.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,297 shares of the business services provider’s stock after purchasing an additional 9,579 shares during the quarter. Kentucky Retirement Systems’ holdings in Republic Services were worth $4,883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in Republic Services in the third quarter valued at approximately $26,000. Prosperity Bancshares Inc acquired a new position in Republic Services during the fourth quarter worth $30,000. Sound Income Strategies LLC purchased a new position in shares of Republic Services during the fourth quarter worth $32,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Republic Services during the fourth quarter worth $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 3.5%

Shares of NYSE:RSG opened at $211.32 on Friday. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $238.62. The company’s 50 day moving average is $212.54 and its two-hundred day moving average is $215.01. The company has a market cap of $65.01 billion, a PE ratio of 30.32, a P/E/G ratio of 3.66 and a beta of 0.40. 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 earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Equities analysts predict that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the business’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 value of $380,304.00. Following the sale, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RSG. Citigroup boosted their price objective on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Barclays boosted their price target on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $243.89.

About Republic Services

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.