Teacher Retirement System of Texas Trims Stock Position in Republic Services, Inc. $RSG

Teacher Retirement System of Texas trimmed its position in Republic Services, Inc. (NYSE:RSG) by 65.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,775 shares of the business services provider’s stock after selling 63,777 shares during the quarter. Teacher Retirement System of Texas’ holdings in Republic Services were worth $7,751,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. AAFMAA Wealth Management & Trust LLC grew its position in Republic Services by 0.9% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock worth $1,393,000 after acquiring an additional 54 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Republic Services by 3.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,778 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 55 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Republic Services by 215.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 54,200 shares of the business services provider’s stock worth $12,438,000 after purchasing an additional 37,000 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Republic Services during the 3rd quarter worth about $2,661,000. Finally, Cornerstone Wealth Group LLC raised its holdings in Republic Services by 3.2% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 18,261 shares of the business services provider’s stock valued at $4,191,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth bought 478 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $217.75 on Monday. Republic Services, Inc. has a 52 week low of $201.42 and a 52 week high of $258.75. The company has a fifty day simple moving average of $213.36 and a two-hundred day simple moving average of $222.59. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market cap of $67.41 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 3.56 and a beta of 0.55.

Republic Services (NYSE:RSG) last released its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the business posted $1.81 earnings per share. Republic Services’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Citigroup lowered their price objective on shares of Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group assumed coverage on Republic Services in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research report on Monday, December 29th. Finally, National Bankshares cut their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.82.

About Republic Services

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.