California Public Employees Retirement System Sells 14,976 Shares of Republic Services, Inc. (NYSE:RSG)

California Public Employees Retirement System lowered its stake in Republic Services, Inc. (NYSE:RSG) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,267,796 shares of the business services provider’s stock after selling 14,976 shares during the period. California Public Employees Retirement System owned 0.40% of Republic Services worth $209,072,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Foster & Motley Inc. bought a new stake in shares of Republic Services during the 4th quarter valued at $221,000. RWA Wealth Partners LLC purchased a new position in shares of Republic Services in the 4th quarter worth about $357,000. Jennison Associates LLC raised its position in shares of Republic Services by 235.0% in the 4th quarter. Jennison Associates LLC now owns 207,050 shares of the business services provider’s stock worth $34,145,000 after purchasing an additional 145,244 shares during the last quarter. OLD National Bancorp IN raised its position in shares of Republic Services by 7.7% in the 4th quarter. OLD National Bancorp IN now owns 5,998 shares of the business services provider’s stock worth $989,000 after purchasing an additional 431 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Republic Services in the 4th quarter worth about $258,000. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RSG shares. Truist Financial boosted their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Citigroup boosted their target price on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. The Goldman Sachs Group upped their price target on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their price target on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company upped their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $199.77.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.1 %

Republic Services stock traded up $0.25 during midday trading on Tuesday, reaching $192.01. The stock had a trading volume of 141,576 shares, compared to its average volume of 1,188,235. The firm has a market cap of $60.48 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. The company has a fifty day moving average of $186.29 and a 200 day moving average of $169.53. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $192.99. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio is presently 39.12%.

About Republic Services

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.