State of Tennessee Department of Treasury Sells 2,791 Shares of Republic Services, Inc. (NYSE:RSG)

State of Tennessee Department of Treasury cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,091 shares of the business services provider's stock after selling 2,791 shares during the period. State of Tennessee Department of Treasury's holdings in Republic Services were worth $10,480,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Republic Services by 11.0% in the 3rd quarter. Barclays PLC now owns 675,163 shares of the business services provider's stock worth $135,598,000 after buying an additional 66,842 shares during the last quarter. Virtu Financial LLC raised its position in shares of Republic Services by 36.2% in the third quarter. Virtu Financial LLC now owns 11,944 shares of the business services provider's stock valued at $2,399,000 after purchasing an additional 3,172 shares during the period. Anchor Investment Management LLC lifted its stake in Republic Services by 3.2% in the 3rd quarter. Anchor Investment Management LLC now owns 38,501 shares of the business services provider's stock worth $7,732,000 after purchasing an additional 1,204 shares in the last quarter. World Investment Advisors LLC boosted its holdings in Republic Services by 25.8% in the 3rd quarter. World Investment Advisors LLC now owns 3,055 shares of the business services provider's stock valued at $613,000 after purchasing an additional 626 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Republic Services in the third quarter worth $1,065,000. 57.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Republic Services Trading Up 1.3 %

Shares of Republic Services stock traded up $3.20 on Friday, hitting $243.96. The stock had a trading volume of 1,947,545 shares, compared to its average volume of 1,116,214. The stock has a market cap of $76.23 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock's 50-day simple moving average is $236.86 and its two-hundred day simple moving average is $219.56.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.03. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.95%. Republic Services's payout ratio is 34.99%.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating on shares of Republic Services in a research report on Friday. UBS Group raised their target price on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Raymond James restated an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. William Blair reiterated an "outperform" rating on shares of Republic Services in a research report on Friday. Finally, Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $245.38.

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.