Louisiana State Employees Retirement System Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Louisiana State Employees Retirement System trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the business services provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Republic Services were worth $2,193,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RSG. Stifel Financial Corp increased its holdings in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP increased its holdings in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after acquiring an additional 538,010 shares in the last quarter. Nordea Investment Management AB increased its holdings in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after acquiring an additional 460,989 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 2.9 %

NYSE RSG opened at $230.98 on Friday. The firm’s 50-day moving average is $210.65 and its two-hundred day moving average is $207.06. Republic Services, Inc. has a 12 month low of $177.03 and a 12 month high of $232.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $72.33 billion, a P/E ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same period in the previous year, the company earned $1.41 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

RSG has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. CIBC boosted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Oppenheimer lifted their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

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.