California Public Employees Retirement System lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 919,777 shares of the business services provider’s stock after selling 842 shares during the quarter. California Public Employees Retirement System’s holdings in Republic Services were worth $62,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in Republic Services by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,383 shares of the business services provider’s stock worth $342,000 after acquiring an additional 78 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in Republic Services by 2.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 8,700 shares of the business services provider’s stock worth $554,000 after acquiring an additional 220 shares in the last quarter. Advisory Services Network LLC increased its holdings in Republic Services by 6.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the business services provider’s stock worth $241,000 after acquiring an additional 223 shares in the last quarter. Advisor Partners LLC grew its holdings in shares of Republic Services by 10.2% during the fourth quarter. Advisor Partners LLC now owns 8,235 shares of the business services provider’s stock worth $562,000 after buying an additional 760 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Republic Services by 18.7% during the fourth quarter. Raymond James Trust N.A. now owns 5,336 shares of the business services provider’s stock worth $361,000 after buying an additional 842 shares in the last quarter. 59.31% of the stock is owned by institutional investors.

Shares of Republic Services, Inc. (RSG) opened at $62.62 on Tuesday. Republic Services, Inc. has a 1-year low of $58.06 and a 1-year high of $69.40. The stock has a market cap of $21,000.00, a price-to-earnings ratio of 16.57, a PEG ratio of 1.94 and a beta of 0.54. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 0.94.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. equities research analysts forecast that Republic Services, Inc. will post 3.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a dividend of $0.345 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.38 annualized dividend and a dividend yield of 2.20%. Republic Services’s payout ratio is 36.51%.

Republic Services declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts have recently issued reports on RSG shares. Credit Suisse Group dropped their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, January 22nd. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $73.00 in a report on Thursday, January 4th. BMO Capital Markets dropped their target price on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Friday. Finally, Bank of America upped their target price on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $68.57.

In other news, CEO Donald W. Slager sold 98,132 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the transaction, the chief executive officer now owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Brian A. Goebel sold 1,220 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following the transaction, the chief accounting officer now directly owns 7,406 shares in the company, valued at approximately $504,052.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,642 shares of company stock worth $6,741,314. Corporate insiders own 0.40% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.watchlistnews.com/republic-services-inc-rsg-position-reduced-by-california-public-employees-retirement-system/1862673.html.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.