Kentucky Retirement Systems Insurance Trust Fund Has $1.92 Million Stake in Republic Services, Inc. (NYSE:RSG)

Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 58.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,564 shares of the business services provider's stock after acquiring an additional 3,520 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Republic Services were worth $1,924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. FSA Wealth Management LLC acquired a new position in Republic Services during the 3rd quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of Republic Services in the 4th quarter valued at approximately $32,000. Truvestments Capital LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at approximately $39,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Republic Services in the 4th quarter valued at approximately $50,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of NYSE:RSG traded down $0.13 on Friday, hitting $230.73. The company's stock had a trading volume of 1,231,741 shares, compared to its average volume of 1,014,084. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $232.52. The company has a market capitalization of $72.05 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The stock's 50-day moving average is $212.44 and its two-hundred day moving average is $208.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio is 35.75%.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company's stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RSG. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Finally, Stifel Nicolaus boosted their price target on Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $231.75.

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.