New York State Teachers Retirement System Has $35.11 Million Holdings in Republic Services, Inc. $RSG

Key Points

• The New York State Teachers Retirement System reduced its holdings in Republic Services, Inc. by 2.0%, now owning 142,363 shares valued at approximately $35.11 million.
• Several major investors, including Vanguard Group and JPMorgan Chase, recently increased their positions in Republic Services, indicating strong institutional interest with 57.73% of the stock owned by institutional investors and hedge funds.
• Republic Services announced a quarterly dividend increase to $0.625 per share, reflecting a positive change from its previous dividend and demonstrating the company's commitment to returning capital to shareholders.

New York State Teachers Retirement System cut its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,363 shares of the business services provider's stock after selling 2,971 shares during the period. New York State Teachers Retirement System's holdings in Republic Services were worth $35,108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after purchasing an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after purchasing an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Republic Services by 12.4% during the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after purchasing an additional 224,867 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RSG. UBS Group cut their price objective on shares of Republic Services from $260.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Republic Services from $275.00 to $260.00 and set a "neutral" rating on the stock in a report on Tuesday. National Bankshares cut their price objective on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Barclays began coverage on shares of Republic Services in a report on Friday, September 19th. They issued an "equal weight" rating and a $240.00 price objective on the stock. Finally, Scotiabank set a $250.00 price objective on shares of Republic Services in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $257.10.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Stock Down 1.4%

Shares of RSG stock opened at $217.95 on Friday. The firm has a fifty day moving average of $229.22 and a 200-day moving average of $239.30. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a market capitalization of $68.05 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 3.57 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd were given a dividend of $0.625 per share. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 2nd. Republic Services's payout ratio is currently 36.98%.

Republic Services Company 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.

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