Kentucky Retirement Systems Insurance Trust Fund Trims Position in Republic Services, Inc. (NYSE:RSG)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,969 shares of the business services provider’s stock after selling 3,595 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Republic Services were worth $1,445,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. DnB Asset Management AS grew its stake in Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock worth $14,672,000 after purchasing an additional 28,764 shares during the period. Hickory Point Bank & Trust purchased a new stake in Republic Services in the fourth quarter worth $790,000. Uniting Wealth Partners LLC purchased a new stake in Republic Services in the fourth quarter worth $266,000. BNP Paribas Financial Markets grew its stake in Republic Services by 3.4% in the fourth quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider’s stock worth $87,681,000 after purchasing an additional 14,273 shares during the period. Finally, National Pension Service grew its stake in Republic Services by 3.5% in the fourth quarter. National Pension Service now owns 329,757 shares of the business services provider’s stock worth $66,341,000 after purchasing an additional 11,128 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Down 0.1%

Shares of NYSE:RSG opened at $248.11 on Monday. The company has a market cap of $77.53 billion, a P/E ratio of 37.42, a PEG ratio of 3.80 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The stock’s fifty day moving average price is $248.61 and its 200-day moving average price is $231.25.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. Republic Services’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio is 34.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RSG shares. Melius started coverage on Republic Services in a research note on Monday, June 9th. They issued a “hold” rating on the stock. Raymond James Financial reissued an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Seaport Res Ptn raised Republic Services to a “strong-buy” rating in a report on Tuesday, May 6th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a report on Tuesday, March 4th. Finally, William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.68.

About Republic Services

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.