Republic Services, Inc. $RSG Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Republic Services, Inc. (NYSE:RSG) by 14.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 442,273 shares of the business services provider’s stock after selling 75,649 shares during the period. California Public Employees Retirement System’s holdings in Republic Services were worth $96,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Republic Services by 1.7% in the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after acquiring an additional 166,474 shares during the period. Capital World Investors increased its stake in shares of Republic Services by 27.7% during the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley raised its holdings in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares in the last quarter. Wellington Management Group LLP lifted its position in Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares during the period. Finally, Norges Bank acquired a new stake in Republic Services in the fourth quarter valued at about $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 shares were bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is currently owned by company insiders.

Republic Services Price Performance

Republic Services stock opened at $222.43 on Monday. The firm has a market capitalization of $68.43 billion, a PE ratio of 31.91, a P/E/G ratio of 3.72 and a beta of 0.40. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The firm’s 50-day simple moving average is $210.93 and its 200 day simple moving average is $214.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $1.58 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 35.87%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price target on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. UBS Group dropped their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus 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.