New York State Teachers Retirement System Reduces Position in Republic Services, Inc. (RSG)
New York State Teachers Retirement System cut its stake in Republic Services, Inc. (NYSE:RSG) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 389,312 shares of the business services provider’s stock after selling 14,055 shares during the period. New York State Teachers Retirement System’s holdings in Republic Services were worth $24,453,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of RSG. Norges Bank purchased a new stake in Republic Services during the fourth quarter valued at about $177,244,000. Vanguard Group Inc. boosted its stake in Republic Services by 6.1% in the first quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock valued at $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Republic Services by 329.6% in the first quarter. Renaissance Technologies LLC now owns 875,000 shares of the business services provider’s stock valued at $54,959,000 after buying an additional 671,300 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Republic Services during the first quarter valued at about $39,751,000. Finally, American Century Companies Inc. boosted its stake in Republic Services by 4.2% in the first quarter. American Century Companies Inc. now owns 8,915,076 shares of the business services provider’s stock valued at $559,956,000 after buying an additional 356,424 shares during the last quarter. Institutional investors own 61.75% of the company’s stock.
Shares of Republic Services, Inc. (RSG) traded down 0.25% on Friday, hitting $63.73. The stock had a trading volume of 286,699 shares. The company’s 50 day moving average is $63.37 and its 200 day moving average is $60.78. The stock has a market cap of $21.55 billion, a PE ratio of 33.90 and a beta of 0.57. Republic Services, Inc. has a one year low of $48.67 and a one year high of $65.34.
Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. Republic Services had a net margin of 6.75% and a return on equity of 10.18%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $0.48 earnings per share. Republic Services’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that Republic Services, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.00%. Republic Services’s dividend payout ratio (DPR) is currently 68.45%.
Several equities research analysts recently issued reports on RSG shares. Wedbush lifted their price objective on Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, March 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, May 2nd. Finally, Barclays PLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Republic Services in a report on Friday, April 28th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.56.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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