Teacher Retirement System of Texas Lowers Position in Republic Services, Inc. $RSG

Teacher Retirement System of Texas decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 65.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,775 shares of the business services provider’s stock after selling 63,777 shares during the quarter. Teacher Retirement System of Texas’ holdings in Republic Services were worth $7,751,000 as of its most recent SEC filing.

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

Republic Services Stock Performance

NYSE:RSG opened at $217.75 on Monday. The company has a market cap of $67.41 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.56 and a beta of 0.55. Republic Services, Inc. has a twelve month low of $201.42 and a twelve month high of $258.75. The company’s 50-day moving average price is $213.36 and its 200-day moving average price is $222.59. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

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

Insiders Place Their Bets

In related news, Director Katharine Weymouth bought 478 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was bought at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the acquisition, the director directly owned 5,740 shares in the company, valued at $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RSG. Citigroup decreased their target price on Republic Services from $268.00 to $244.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. National Bankshares decreased their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Sanford C. Bernstein boosted their target price on shares of Republic Services from $205.00 to $220.00 and gave the stock a “market perform” rating in a research note on Monday, January 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a research note on Friday, October 31st. Finally, Wells Fargo & Company began coverage on Republic Services in a research note on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.82.

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.