New York State Common Retirement Fund Trims Holdings in Republic Services, Inc. $RSG

New York State Common Retirement Fund cut its stake in Republic Services, Inc. (NYSE:RSG) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,185 shares of the business services provider’s stock after selling 26,756 shares during the period. New York State Common Retirement Fund’s holdings in Republic Services were worth $60,625,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RSG. Norges Bank bought a new position in shares of Republic Services during the second quarter worth about $690,313,000. M&G PLC increased its holdings in Republic Services by 113.0% in the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock valued at $287,670,000 after buying an additional 617,939 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Republic Services by 174.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock worth $169,038,000 after buying an additional 435,816 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Republic Services by 21.3% in the 2nd quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock worth $573,443,000 after acquiring an additional 408,885 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the stock in a transaction dated Tuesday, December 9th. The shares were bought at an average cost of $209.46 per share, with a total value of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RSG shares. Bank of America reduced their price objective on Republic Services from $271.00 to $241.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Stifel Nicolaus reduced their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Sanford C. Bernstein boosted their price objective on shares of Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. The Goldman Sachs Group initiated coverage on shares of Republic Services in a report on Monday, November 24th. They issued a “buy” rating and a $255.00 target price on the stock. Finally, UBS Group set a $220.00 target price on Republic Services in a research note on Monday, January 5th. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.82.

Republic Services Stock Performance

RSG opened at $215.28 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $213.54 and its 200-day moving average is $222.19. The stock has a market cap of $66.64 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.55. Republic Services, Inc. has a twelve month low of $201.42 and a twelve month high of $258.75.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 EPS. On average, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

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.