Louisiana State Employees Retirement System Buys New Shares in Republic Services, Inc. (NYSE:RSG)

Louisiana State Employees Retirement System bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,400 shares of the business services provider’s stock, valued at approximately $2,045,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its stake in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at approximately $34,000. BKM Wealth Management LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at approximately $37,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Republic Services in the 4th quarter valued at approximately $41,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Republic Services in the 1st quarter valued at approximately $34,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG opened at $188.95 on Thursday. The company’s fifty day moving average is $185.28 and its 200-day moving average is $168.34. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.57. The firm has a market cap of $59.52 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.28 and a beta of 0.68. 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 posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the business posted $1.13 EPS. Republic Services’s revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a $0.535 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. Republic Services’s payout ratio is presently 39.12%.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research analyst reports. Scotiabank initiated coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective on the stock. Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their price objective on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Profile

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.