Republic Services, Inc. $RSG Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,552 shares of the business services provider’s stock after purchasing an additional 484 shares during the quarter. Teacher Retirement System of Texas’ holdings in Republic Services were worth $24,057,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RSG. Brighton Jones LLC boosted its holdings in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Republic Services by 11,433.3% in the first quarter. Golden State Wealth Management LLC now owns 346 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 343 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Republic Services by 4.4% in the first quarter. Perigon Wealth Management LLC now owns 1,217 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 51 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Republic Services by 9.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,660 shares of the business services provider’s stock valued at $1,128,000 after acquiring an additional 418 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Republic Services by 10.1% in the first quarter. Diversified Trust Co now owns 1,692 shares of the business services provider’s stock valued at $410,000 after acquiring an additional 155 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Trading Down 1.0%

NYSE:RSG opened at $220.91 on Tuesday. The stock has a fifty day moving average price of $227.52 and a two-hundred day moving average price of $238.56. The stock has a market capitalization of $68.97 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 3.60 and a beta of 0.59. 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, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a $0.625 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is currently 36.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RSG shares. National Bankshares decreased their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Stifel Nicolaus assumed coverage on Republic Services in a research note on Monday, September 29th. They set a “buy” rating and a $257.00 price target for the company. Oppenheimer cut their price target on Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Raymond James Financial set a $260.00 price target on Republic Services and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Citigroup cut their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Insiders Place Their Bets

In other news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.

About Republic Services

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.