Public Sector Pension Investment Board Has $23.55 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Public Sector Pension Investment Board trimmed its position in Republic Services, Inc. (NYSE:RSG – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,898 shares of the business services provider’s stock after selling 550 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.05% of Republic Services worth $23,553,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Masso Torrence Wealth Management Inc. purchased a new position in Republic Services during the 4th quarter valued at about $32,000. Confluence Wealth Services Inc. bought a new stake in shares of Republic Services during the 4th quarter worth about $33,000. Desjardins Global Asset Management Inc. bought a new position in shares of Republic Services in the 4th quarter valued at approximately $38,000. Covestor Ltd bought a new stake in Republic Services during the fourth quarter worth approximately $49,000. Finally, CVA Family Office LLC raised its position in shares of Republic Services by 30.8% in the fourth quarter. CVA Family Office LLC now owns 403 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 95 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 88,588 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was acquired at an average cost of $116.00 per share, with a total value of $10,276,208.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on RSG shares. JPMorgan Chase & Co. started coverage on Republic Services in a research report on Tuesday, March 1st. They issued a “neutral” rating for the company. Bank of America raised Republic Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $150.00 in a report on Friday, May 13th. StockNews.com assumed coverage on Republic Services in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Republic Services from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Monday, February 14th. Finally, Raymond James raised their price objective on shares of Republic Services from $140.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $136.75.

Shares of RSG traded up $0.52 during mid-day trading on Tuesday, hitting $131.48. 5,469 shares of the company traded hands, compared to its average volume of 1,359,774. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $41.53 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.60 and a beta of 0.75. The business has a 50-day moving average of $132.30 and a 200 day moving average of $131.02. Republic Services, Inc. has a one year low of $106.46 and a one year high of $145.98.

Republic Services (NYSE:RSG – Get Rating) last released its earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 4.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, June 30th. Republic Services’s dividend payout ratio (DPR) is presently 43.60%.

About Republic Services (Get Rating)

Republic Services, Inc, together with its subsidiaries, offers 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 material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

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