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

Key Points

• Louisiana State Employees Retirement System bought a new stake in Republic Services in Q1, acquiring 10,300 shares valued at about $2.26 million.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion, slightly above estimates.
• The company also declared a quarterly dividend of $0.625 per share, equal to a $2.50 annualized payout and a 1.2% yield.

Louisiana State Employees Retirement System bought a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,300 shares of the business services provider's stock, valued at approximately $2,256,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after acquiring an additional 8,547 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Republic Services by 23.2% in the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock valued at $4,329,000 after purchasing an additional 3,303 shares during the period. NewEdge Advisors LLC grew its stake in Republic Services by 3.6% in the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock worth $7,322,000 after purchasing an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Republic Services by 0.7% in the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock worth $23,336,000 after purchasing an additional 688 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in Republic Services by 68.4% during the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock worth $2,871,000 after purchasing an additional 4,729 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG opened at $214.82 on Tuesday. The company has a 50 day moving average of $207.36 and a two-hundred day moving average of $214.12. The company has a market cap of $66.09 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.82.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is currently 36.15%.

Insider Transactions at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 987,150 shares of company stock worth $202,366,682 in the last 90 days. Insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Barclays lifted their price objective on Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Weiss Ratings cut shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Republic Services in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. Finally, Citigroup reduced their price target on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.26.

Republic Services 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.

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