Arizona State Retirement System Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Arizona State Retirement System raised its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 66,245 shares of the business services provider's stock after purchasing an additional 3,431 shares during the quarter. Arizona State Retirement System's holdings in Republic Services were worth $16,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RSG. Golden State Wealth Management LLC increased its stake in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the period. New Age Alpha Advisors LLC increased its stake in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC bought a new position in shares of Republic Services during the fourth quarter valued at approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in Republic Services in the fourth quarter worth $45,000. Finally, Proathlete Wealth Management LLC bought a new stake in Republic Services in the first quarter valued at $76,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Republic Services stock traded up $1.15 during midday trading on Friday, reaching $241.24. 1,768,355 shares of the company traded hands, compared to its average volume of 1,154,194. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 3.69 and a beta of 0.61. The business has a 50 day moving average of $248.14 and a two-hundred day moving average of $234.81.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $1.45 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.96%. Republic Services's payout ratio is presently 34.99%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RSG. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Robert W. Baird upped their target price on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Truist Financial raised their target price on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Citigroup upped their price target on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.21.

Republic Services 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.