Texas Permanent School Fund Corp cut its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 42,484 shares of the business services provider’s stock after selling 625 shares during the period. Texas Permanent School Fund Corp’s holdings in Republic Services were worth $6,054,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of RSG. D.A. Davidson & CO. purchased a new stake in shares of Republic Services during the 1st quarter valued at $203,000. Synovus Financial Corp grew its stake in shares of Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock valued at $1,890,000 after buying an additional 260 shares during the period. Vontobel Holding Ltd. boosted its position in Republic Services by 34.6% during the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock worth $523,000 after purchasing an additional 998 shares during the period. Blair William & Co. IL boosted its position in Republic Services by 1.6% during the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock worth $4,129,000 after purchasing an additional 495 shares during the period. Finally, Moors & Cabot Inc. boosted its position in Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after purchasing an additional 187 shares during the period. 57.23% of the stock is currently owned by institutional investors and hedge funds.
Republic Services Price Performance
RSG opened at $173.49 on Monday. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. Republic Services, Inc. has a fifty-two week low of $124.27 and a fifty-two week high of $175.35. The company’s 50-day moving average price is $166.41 and its 200 day moving average price is $155.52. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.06.
Republic Services Dividend Announcement
Republic Services declared that its board has approved a stock repurchase program on Thursday, October 26th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on RSG. Wolfe Research began coverage on shares of Republic Services in a research report on Tuesday, October 17th. They set a “peer perform” rating for the company. UBS Group raised shares of Republic Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $155.00 to $175.00 in a research report on Monday, October 23rd. Stifel Nicolaus upped their price target on shares of Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Wells Fargo & Company boosted their price objective on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Republic Services in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.33.
About Republic Services
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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