California State Teachers Retirement System Has $55.10 Million Stake in Republic Services, Inc. $RSG

Key Points

• California State Teachers Retirement System reduced its Republic Services stake by 2.8%, selling 7,363 shares and retaining 251,568 shares worth approximately $55.1 million. Institutional investors collectively own 57.73% of the company.
• Analyst sentiment remains positive but mixed: Republic Services has a consensus “Moderate Buy” rating from 22 analysts, with an average price target of $243.89. Recent ratings included price-target increases from Barclays and an “outperform” reaffirmation from CIBC, alongside downgrades to “hold” from Argus.
• Republic Services reported quarterly EPS of $1.70, exceeding estimates by $0.06, while revenue rose 2.6% year over year to $4.11 billion. The company also maintains a quarterly dividend of $0.625, equal to a 1.2% annualized yield.

California State Teachers Retirement System reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,568 shares of the business services provider's stock after selling 7,363 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of Republic Services worth $55,098,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. State Street Corp boosted its stake in Republic Services by 1.7% in the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock worth $2,054,820,000 after purchasing an additional 166,474 shares in the last quarter. Capital World Investors increased its stake in shares of Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley raised its holdings in shares of Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after buying an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP lifted its position in Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock worth $1,074,513,000 after buying an additional 807,525 shares in the last quarter. Finally, Norges Bank acquired a new stake in Republic Services in the 4th quarter valued at about $617,165,000. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. Barclays increased their price target on shares of Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Argus lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Robert W. Baird lowered their target price on Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Republic Services in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.89.

Insider Transactions at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company's stock.

Republic Services Trading Down 3.5%

Shares of NYSE RSG opened at $211.32 on Friday. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $238.62. The firm has a market capitalization of $65.01 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.66 and a beta of 0.40. 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 company's 50 day simple moving average is $212.54 and its 200 day simple moving average is $215.01.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 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 previous year, the company posted $1.58 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services's dividend payout ratio is presently 35.87%.

About Republic Services

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.

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