Treasurer of the State of North Carolina Sells 74,765 Shares of Republic Services, Inc. (NYSE:RSG)

Treasurer of the State of North Carolina reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 43.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,753 shares of the business services provider's stock after selling 74,765 shares during the period. Treasurer of the State of North Carolina's holdings in Republic Services were worth $19,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd purchased a new position in Republic Services in the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC boosted its holdings in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in Republic Services during the fourth quarter valued at approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Republic Services in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company's stock.

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Republic Services Stock Performance

NYSE RSG traded up $0.78 during trading on Thursday, hitting $244.39. 384,402 shares of the company's stock traded hands, compared to its average volume of 1,116,127. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The business has a 50 day moving average of $234.67 and a 200-day moving average of $217.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market capitalization of $76.32 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 3.64 and a beta of 0.62.

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

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, April 2nd. Republic Services's dividend payout ratio is currently 35.75%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RSG. Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Scotiabank boosted their target price on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. Truist Financial restated a "buy" rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $239.13.

Republic Services Company 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.