Strs Ohio Cuts Stake in Republic Services, Inc. $RSG

Strs Ohio reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 55,529 shares of the business services provider’s stock after selling 2,675 shares during the period. Strs Ohio’s holdings in Republic Services were worth $12,162,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RSG. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the 3rd quarter valued at $26,000. Laurel Wealth Advisors LLC bought a new stake in Republic Services in the fourth quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in Republic Services during the third quarter valued at about $29,000. Prosperity Bancshares Inc bought a new position in shares of Republic Services during the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Republic Services during the fourth quarter valued at about $32,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.0%

Shares of NYSE RSG opened at $217.27 on Monday. The firm has a fifty day simple moving average of $208.07 and a two-hundred day simple moving average of $214.22. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $66.85 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is 35.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RSG. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wolfe Research started coverage on Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Robert W. Baird lowered their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.26.

Insider Activity at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Republic Services Profile

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.