Kentucky Retirement Systems Has $3 Million Stake in Republic Services, Inc. (NYSE:RSG)

Kentucky Retirement Systems decreased its stake in Republic Services, Inc. (NYSE:RSG) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,426 shares of the business services provider’s stock after selling 105 shares during the quarter. Kentucky Retirement Systems’ holdings in Republic Services were worth $2,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unigestion Holding SA lifted its position in Republic Services by 2,178.2% in the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after buying an additional 122,044 shares in the last quarter. Bank of Nova Scotia lifted its position in Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after buying an additional 73,651 shares in the last quarter. TCW Group Inc. bought a new position in shares of Republic Services during the 4th quarter valued at $17,903,000. Hsbc Holdings PLC raised its holdings in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after purchasing an additional 36,484 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Republic Services by 10.4% during the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after purchasing an additional 55,668 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $200.84 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $63.08 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 3.30 and a beta of 0.70. The company’s fifty day moving average is $202.25 and its two-hundred day moving average is $193.61. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Equities research analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.16%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. Robert W. Baird raised their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $211.00.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.