New York State Common Retirement Fund Has $74.31 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

New York State Common Retirement Fund reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 29.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,879 shares of the business services provider's stock after selling 130,826 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Republic Services worth $74,314,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Arizona State Retirement System lifted its position in Republic Services by 5.5% during the 1st quarter. Arizona State Retirement System now owns 66,245 shares of the business services provider's stock worth $16,042,000 after buying an additional 3,431 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in Republic Services by 14.2% during the first quarter. Kathmere Capital Management LLC now owns 4,049 shares of the business services provider's stock worth $980,000 after acquiring an additional 503 shares in the last quarter. Ballentine Partners LLC boosted its position in Republic Services by 2.7% during the first quarter. Ballentine Partners LLC now owns 7,897 shares of the business services provider's stock valued at $1,912,000 after purchasing an additional 210 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Republic Services during the 1st quarter worth approximately $201,000. Finally, Xponance Inc. raised its stake in shares of Republic Services by 1.7% during the 1st quarter. Xponance Inc. now owns 32,038 shares of the business services provider's stock worth $7,758,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded up $2.90 during midday trading on Monday, hitting $244.11. The company had a trading volume of 1,264,995 shares, compared to its average volume of 1,287,670. The firm has a 50-day moving average price of $248.14 and a 200-day moving average price of $235.02. The company has a market capitalization of $76.28 billion, a PE ratio of 36.82, a P/E/G ratio of 3.70 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a twelve month low of $188.82 and a twelve month high of $258.75.

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

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.95%. Republic Services's dividend payout ratio is currently 34.99%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RSG shares. Oppenheimer upped their price target on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a research note on Friday, April 25th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Truist Financial raised their price objective on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Finally, Scotiabank boosted their target price on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus target price of $255.21.

About Republic Services

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.