Police & Firemen s Retirement System of New Jersey Grows Stock Position in Republic Services, Inc. $RSG

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 30,778 shares of the business services provider’s stock after purchasing an additional 979 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Republic Services were worth $7,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cranbrook Wealth Management LLC increased its stake in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. TCTC Holdings LLC grew its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Elequin Capital LP purchased a new position in Republic Services during the first quarter worth $30,000. NewSquare Capital LLC raised its holdings in shares of Republic Services by 68.5% in the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of Republic Services in the second quarter valued at $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.11% of the stock is currently owned by insiders.

Republic Services Stock Up 0.3%

Shares of NYSE:RSG opened at $205.84 on Friday. The stock has a 50-day simple moving average of $220.63 and a 200-day simple moving average of $235.43. The stock has a market capitalization of $63.72 billion, a P/E ratio of 30.45, a PEG ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the previous year, the company posted $1.81 earnings per share. Republic Services’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s dividend payout ratio is presently 37.20%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RSG shares. National Bankshares dropped their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Sanford C. Bernstein began coverage on shares of Republic Services in a research report on Wednesday. They issued a “market perform” rating and a $205.00 price objective for the company. UBS Group decreased their target price on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Robert W. Baird set a $240.00 price target on Republic Services in a report on Friday, October 31st. Finally, Stifel Nicolaus decreased their price objective on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Republic Services Company 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.