Republic Services, Inc. (NYSE:RSG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Republic Services, Inc. (NYSE:RSG) by 33.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,393 shares of the business services provider’s stock after selling 39,928 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Republic Services were worth $15,235,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Capital World Investors raised its position in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after acquiring an additional 5,292,862 shares in the last quarter. Norges Bank purchased a new stake in Republic Services during the fourth quarter worth about $358,837,000. TD Asset Management Inc boosted its stake in shares of Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after acquiring an additional 1,393,918 shares in the last quarter. M&G Plc purchased a new position in Republic Services in the 1st quarter valued at approximately $130,892,000. Finally, Corient Private Wealth LLC boosted its position in Republic Services by 136.5% during the fourth quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock worth $59,681,000 after purchasing an additional 208,902 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. CIBC lifted their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $211.00.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Price Performance

Shares of RSG opened at $205.79 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $64.63 billion, a P/E ratio of 36.10, a PEG ratio of 3.29 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $208.69. The stock has a fifty day moving average price of $201.84 and a 200 day moving average price of $193.12.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, research analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Republic Services 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.