Retirement Systems of Alabama Sells 2,406 Shares of Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on May 2nd, 2023

Retirement Systems of Alabama lowered its holdings in Republic Services, Inc. (NYSE:RSG – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,803 shares of the business services provider’s stock after selling 2,406 shares during the period. Retirement Systems of Alabama’s holdings in Republic Services were worth $8,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Veriti Management LLC boosted its position in Republic Services by 21.7% in the fourth quarter. Veriti Management LLC now owns 6,325 shares of the business services provider’s stock worth $816,000 after purchasing an additional 1,127 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Republic Services by 21.3% in the third quarter. Thrivent Financial for Lutherans now owns 80,758 shares of the business services provider’s stock valued at $11,028,000 after purchasing an additional 14,172 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Republic Services by 11.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,773 shares of the business services provider’s stock worth $241,000 after acquiring an additional 184 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Republic Services by 5.4% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 2,029 shares of the business services provider’s stock worth $276,000 after acquiring an additional 104 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in Republic Services by 0.6% in the 3rd quarter. Synovus Financial Corp now owns 14,947 shares of the business services provider’s stock valued at $2,032,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Tomago Collins sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $130.77, for a total value of $202,039.65. Following the sale, the director now directly owns 10,604 shares of the company’s stock, valued at $1,386,685.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tomago Collins sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $130.77, for a total value of $202,039.65. Following the completion of the transaction, the director now owns 10,604 shares in the company, valued at approximately $1,386,685.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jennifer M. Kirk acquired 1,000 shares of the stock in a transaction on Tuesday, February 21st. The shares were purchased at an average cost of $129.60 per share, with a total value of $129,600.00. Following the transaction, the director now directly owns 4,449 shares of the company’s stock, valued at approximately $576,590.40. The disclosure for this purchase can be found here. 0.06% of the stock is owned by insiders.

Republic Services Stock Up 0.2 %

RSG opened at $144.98 on Tuesday. Republic Services, Inc. has a 52 week low of $119.72 and a 52 week high of $149.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $133.42 and its 200 day simple moving average is $131.39. The stock has a market cap of $45.85 billion, a PE ratio of 30.27, a P/E/G ratio of 2.92 and a beta of 0.66.

Republic Services (NYSE:RSG – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Republic Services had a net margin of 10.76% and a return on equity of 16.86%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 5.19 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be paid a $0.495 dividend. The ex-dividend date is Friday, June 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.37%. Republic Services’s payout ratio is presently 41.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on Republic Services from $148.00 to $138.00 and set a “market perform” rating on the stock in a research note on Thursday, February 16th. StockNews.com initiated coverage on shares of Republic Services in a report on Thursday, March 16th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their target price on shares of Republic Services from $131.00 to $134.00 and gave the company a “sector perform” rating in a report on Thursday, February 16th. VNET Group reiterated a “maintains” rating on shares of Republic Services in a research report on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Republic Services from $150.00 to $140.00 in a research report on Monday, January 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.82.

Republic Services Profile

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Republic Services, Inc engages in the provision of environmental services. It operates through the following segments: Group 1, Group 2, and Group 3. The Group 1 segment focuses on the business of recycling and solid waste in geographic areas located in western United States. The Group 2 segment includes the recycling and solid waste business in geographic areas located in the southeastern and mid-western and the eastern seaboard of the United States.