Louisiana State Employees Retirement System Invests $2.26 Million in Republic Services, Inc. $RSG

Louisiana State Employees Retirement System purchased a new position in Republic Services, Inc. (NYSE:RSG) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 10,300 shares of the business services provider’s stock, valued at approximately $2,256,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SteelPeak Wealth LLC lifted its holdings in shares of Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after buying an additional 7,001 shares during the period. Rathbones Group PLC raised its position in Republic Services by 11.5% during the third quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider’s stock valued at $21,383,000 after acquiring an additional 9,611 shares in the last quarter. Numerai GP LLC purchased a new position in Republic Services during the third quarter valued at approximately $7,934,000. CIBC Bancorp USA Inc. acquired a new position in Republic Services in the third quarter valued at approximately $7,079,000. Finally, Natixis Advisors LLC boosted its position in Republic Services by 8.6% in the 3rd quarter. Natixis Advisors LLC now owns 203,444 shares of the business services provider’s stock worth $46,687,000 after purchasing an additional 16,027 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

NYSE RSG opened at $214.82 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $207.36 and its 200-day simple moving average is $214.12. The company has a market cap of $66.09 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.82.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company earned $1.58 EPS. Republic Services’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 36.15%.

Insider Buying and Selling at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RSG. Wolfe Research assumed coverage on shares of Republic Services in a report on Friday, March 13th. They set a “peer perform” rating for the company. Citigroup dropped their price target on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Robert W. Baird dropped their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada lifted their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.26.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.