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New York State Teachers Retirement System Sells 4,824 Shares of Republic Services, Inc. (NYSE:RSG)

Republic Services logo with Business Services background

New York State Teachers Retirement System reduced its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,334 shares of the business services provider's stock after selling 4,824 shares during the period. New York State Teachers Retirement System's holdings in Republic Services were worth $35,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after buying an additional 8,547 shares during the last quarter. SVB Wealth LLC acquired a new position in Republic Services during the fourth quarter worth about $1,748,000. Fisher Asset Management LLC boosted its stake in shares of Republic Services by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 8,224 shares of the business services provider's stock valued at $1,655,000 after purchasing an additional 238 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Republic Services by 5.2% during the 4th quarter. Metis Global Partners LLC now owns 7,079 shares of the business services provider's stock valued at $1,424,000 after purchasing an additional 349 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Republic Services by 34.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,100 shares of the business services provider's stock worth $1,026,000 after purchasing an additional 1,310 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.8%

Shares of NYSE RSG traded down $1.94 during midday trading on Tuesday, hitting $244.67. 1,131,709 shares of the stock traded hands, compared to its average volume of 1,143,393. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The business has a 50 day moving average price of $249.05 and a two-hundred day moving average price of $232.73. The company has a market cap of $76.46 billion, a PE ratio of 36.90, a P/E/G ratio of 3.74 and a beta of 0.63.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 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 during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.45 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research analyst reports. BMO Capital Markets reiterated an "outperform" rating and set a $280.00 price target (up from $268.00) on shares of Republic Services in a report on Monday, June 9th. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a report on Tuesday, March 4th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price target for the company in a research report on Monday, June 9th. Finally, Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $252.68.

View Our Latest Research Report on RSG

About Republic Services

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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