New York State Teachers Retirement System Sells 6,075 Shares of Republic Services, Inc. (NYSE:RSG)

New York State Teachers Retirement System trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 159,889 shares of the business services provider’s stock after selling 6,075 shares during the quarter. New York State Teachers Retirement System’s holdings in Republic Services were worth $32,112,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RSG. Wolff Wiese Magana LLC boosted its holdings in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Republic Services in the first quarter worth $29,000. Webster Bank N. A. bought a new position in shares of Republic Services during the third quarter valued at $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Republic Services during the second quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in shares of Republic Services during the second quarter valued at $45,000. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer upped their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird upped their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, CIBC upped their price objective on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Stock Performance

Shares of RSG opened at $198.00 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 52 week low of $146.82 and a 52 week high of $208.69. The business has a 50-day simple moving average of $203.59 and a two-hundred day simple moving average of $196.66. The stock has a market cap of $62.19 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.21 and a beta of 0.69.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business posted $1.54 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Republic Services Company Profile

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.