Republic Services, Inc. $RSG Shares Sold by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund cut its Republic Services stake by 68.3% in the first quarter, selling 6,017 shares and leaving it with 2,799 shares worth about $613,000.
• Republic Services reported better-than-expected quarterly results, posting EPS of $1.70 versus the $1.64 estimate and revenue of $4.11 billion, up 2.6% year over year.
• The company also paid a quarterly dividend of $0.625 per share, and Wall Street remains generally positive with a consensus rating of Moderate Buy and an average price target of $243.89.

Illinois Municipal Retirement Fund reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 68.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,799 shares of the business services provider's stock after selling 6,017 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Republic Services were worth $613,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC boosted its stake in shares of Republic Services by 2.2% during the 1st quarter. Sanctuary Advisors LLC now owns 42,870 shares of the business services provider's stock worth $9,389,000 after acquiring an additional 942 shares in the last quarter. Sigma Planning Corp raised its position in shares of Republic Services by 19.2% during the first quarter. Sigma Planning Corp now owns 3,362 shares of the business services provider's stock worth $736,000 after purchasing an additional 541 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Republic Services by 12.1% during the first quarter. Checchi Capital Advisers LLC now owns 3,730 shares of the business services provider's stock valued at $817,000 after purchasing an additional 403 shares during the last quarter. Hartford Funds Management Co LLC boosted its position in shares of Republic Services by 5.7% in the 1st quarter. Hartford Funds Management Co LLC now owns 5,300 shares of the business services provider's stock valued at $1,161,000 after purchasing an additional 288 shares during the period. Finally, Calamos Wealth Management LLC increased its stake in Republic Services by 39.4% in the 1st quarter. Calamos Wealth Management LLC now owns 4,944 shares of the business services provider's stock worth $1,083,000 after purchasing an additional 1,398 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

NYSE RSG opened at $216.79 on Friday. 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 firm has a market capitalization of $66.70 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40. The company has a 50 day simple moving average of $212.24 and a 200-day simple moving average of $214.85. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $246.25.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services's dividend payout ratio is 35.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RSG shares. Weiss Ratings lowered shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Citigroup upped their price target on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Royal Bank Of Canada raised their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, UBS Group cut their target price on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $243.89.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by corporate insiders.

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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