Retirement Systems of Alabama Has $8.21 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama cut its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,710 shares of the business services provider’s stock after selling 5,093 shares during the quarter. Retirement Systems of Alabama’s holdings in Republic Services were worth $8,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Norges Bank acquired a new stake in Republic Services in the 4th quarter worth $258,032,000. Impax Asset Management Group plc grew its position in Republic Services by 29.7% in the 4th quarter. Impax Asset Management Group plc now owns 2,063,246 shares of the business services provider’s stock worth $266,138,000 after purchasing an additional 472,268 shares during the last quarter. Amundi grew its position in Republic Services by 36.6% in the 4th quarter. Amundi now owns 1,757,531 shares of the business services provider’s stock worth $223,066,000 after purchasing an additional 470,715 shares during the last quarter. Renaissance Technologies LLC grew its position in Republic Services by 193.4% in the 4th quarter. Renaissance Technologies LLC now owns 704,161 shares of the business services provider’s stock worth $90,830,000 after purchasing an additional 464,200 shares during the last quarter. Finally, Invesco Ltd. grew its position in Republic Services by 18.4% in the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock worth $360,808,000 after purchasing an additional 422,281 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Up 0.3 %

Shares of NYSE RSG opened at $154.95 on Monday. Republic Services, Inc. has a 1-year low of $120.58 and a 1-year high of $155.94. The company has a market cap of $49.01 billion, a PE ratio of 32.35, a P/E/G ratio of 3.09 and a beta of 0.67. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.16. The company has a 50-day moving average of $146.74 and a two-hundred day moving average of $137.05.

Republic Services (NYSE:RSG – Get Free Report) last announced its earnings results on Thursday, April 27th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Republic Services had a net margin of 10.76% and a return on equity of 16.66%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. As a group, equities analysts expect that Republic Services, Inc. will post 5.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of Republic Services in a report on Monday, April 17th. They set a “hold” rating and a $146.00 price objective for the company. StockNews.com initiated coverage on shares of Republic Services in a report on Thursday, May 18th. They set a “buy” rating for the company. VNET Group reaffirmed a “maintains” rating on shares of Republic Services in a report on Thursday, April 27th. TD Cowen initiated coverage on shares of Republic Services in a report on Thursday, March 30th. They set a “market perform” rating and a $150.00 price objective for the company. Finally, Raymond James raised their price objective on shares of Republic Services from $154.00 to $167.00 and gave the stock an “outperform” rating in a report on Friday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.27.

About Republic Services

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.