Republic Services, Inc. (NYSE:RSG) shares sold by Texas Permanent School Fund


Texas Permanent School Fund reduced its position in Republic Services, Inc. (NYSE: RSGGet a rating) by 6.2% in the 1st quarter, according to its most recent communication to the Securities and Exchange Commission. The company held 27,089 shares of the business services provider after selling 1,778 shares during the quarter. The Texas Permanent School Fund holdings in Republic Services were worth $3,589,000 at the end of the most recent reporting period.

Other large investors have also changed their stake in the company. Park Avenue Securities LLC increased its holdings of Republic Services stock 9.8% in the first quarter. Park Avenue Securities LLC now owns 5,756 shares of the business services provider valued at $763,000 after acquiring an additional 512 shares during the period. Daiwa Securities Group Inc. increased its holdings of Republic Services shares by 8.0% in the first quarter. Daiwa Securities Group Inc. now owns 13,890 shares of the business services provider valued at $1,840,000 after acquiring an additional 1,029 shares during the period. Advisor Partners LLC increased its holdings of Republic Services shares by 8.3% in the first quarter. Advisor Partners LLC now owns 12,369 shares of the business services provider valued at $1,639,000 after acquiring an additional 943 shares during the period. Sigma Planning Corp increased its holdings of Republic Services shares by 0.5% in the first quarter. Sigma Planning Corp now owns 22,222 shares of the business services provider valued at $2,945,000 after acquiring 113 additional shares during the period. Finally, Rockefeller Capital Management LP increased its holdings of Republic Services shares by 18.4% in the fourth quarter. Rockefeller Capital Management LP now owns 82,258 shares of the business services provider valued at $11,470,000 after acquiring an additional 12,755 shares during the period. 92.80% of the shares are held by institutional investors and hedge funds.

Analyst upgrades and downgrades

Several brokerages have recently weighed in on RSG. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 report. Oppenheimer set a price target of $139.00 on Republic Services in a Tuesday, July 19 report. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its price target for the stock from $140.00 to $150.00 in a Friday, May 13 report. Morgan Stanley raised its price target on Republic Services from $142.00 to $147.00 and gave the stock an “overweight” rating in a Wednesday, July 20 report. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 report. Two investment analysts gave the stock a hold rating, four gave the company a buy rating and two gave the company a high buy rating. According to MarketBeat, Republic Services has a consensus buy rating and a consensus price target of $142.33.

Insider activity

In related news, CAD Brian A. Goebel sold 347 shares of Republic Services in a trade dated Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the chief accounting officer now owns 6,186 shares of the company, valued at approximately $835,171.86. The transaction was disclosed in an SEC filing, available at the SEC website. Separately, CAO Brian A. Goebel sold 347 shares of Republic Services in a trade dated Thursday, June 2. The stock was sold at an average price of $135.01, for a total transaction of $46,848.47. Following the completion of the sale, the chief accounting officer now owns 6,186 shares of the company, valued at approximately $835,171.86. The transaction was disclosed in an SEC filing, available at the SEC website. Additionally, COO Timothy E. Stuart sold 15,000 shares of Republic Services in a trade dated Tuesday, June 7. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. As a result of the sale, the chief operating officer now owns 19,675 shares of the company, valued at approximately $2,659,863.25. Disclosure of this sale can be found here. Insiders of the company hold 0.06% of the shares of the company.

Republic services trade up 0.3%

NYSE: RSG opened at $141.90 on Monday. The stock has a fifty-day moving average price of $130.78 and a two-hundred-day moving average price of $129.56. The stock has a market capitalization of $44.82 billion, a price/earnings ratio of 32.55, a PEG ratio of 2.88 and a beta of 0.72. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. Republic Services, Inc. has a 1-year minimum of $113.57 and a 1-year maximum of $145.98.

Services of the Republic (NYSE: RSGGet a rating) last announced its quarterly results on Thursday, August 4. The business services provider reported earnings per share of $1.32 for the quarter, beating analyst consensus estimates of $1.18 by $0.14. Republic Services had a return on equity of 16.30% and a net margin of 11.31%. The company posted revenue of $3.41 billion in the quarter, compared to $3.30 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $1.09. The company’s revenue for the quarter increased 21.4% year over year. As a group, sell-side analysts expect Republic Services, Inc. to post earnings per share of 4.78 for the current fiscal year.

The services of the Republic increase their dividends

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Monday, October 3 will receive a dividend of $0.495. The ex-dividend date is Friday, September 30. This represents a dividend of $1.98 on an annualized basis and a dividend yield of 1.40%. This is a boost from Republic Services’ previous quarterly dividend of $0.46. Republic Services’ dividend payout ratio (DPR) is currently 42.20%.

Republic Services Company Profile

(Get a rating)

Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.

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Institutional ownership by quarter for Republic Services (NYSE:RSG)



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