Texas Permanent School Fund Corp has reduced its investment in Republic Services, Inc. (NYSE:RSG) by 35.3% during the second quarter, as detailed in a recent Form 13F filed with the Securities and Exchange Commission. The fund concluded the quarter with 14,271 shares of the waste management company, following a sale of 7,796 shares, bringing its total holdings’ worth to approximately $3,519,000.
In addition to Texas Permanent School Fund’s adjustments, several other significant investors have altered their positions in Republic Services. Brighton Jones LLC increased its stake by an impressive 75.8% in the fourth quarter, acquiring a total of 19,822 shares valued at about $3,988,000 after an additional purchase of 8,547 shares. Aptus Capital Advisors LLC also upped its investment by 22.2% in the first quarter, bringing its total to 7,323 shares worth $1,773,000, following the addition of 1,329 shares. Moreover, Legacy Financial Advisors Inc. initiated a new position in the company, valued at approximately $205,000, while Venture Visionary Partners LLC’s stake increased by 28.6% to include 3,423 shares valued at $829,000. Additionally, EntryPoint Capital LLC established a new position worth around $251,000 in the first quarter. Currently, institutional investors account for approximately 57.73% of Republic Services’ stock.
In related insider activity, Republic Services Director Katharine Weymouth bought 478 shares on December 9, acquiring them at an average price of $209.46 each, totaling $100,121.88. Following this transaction, her stake increased by 9.08%, bringing her total holdings to 5,740 shares worth $1,202,300.40. At present, insiders own about 0.11% of the company.
On the stock market, Republic Services shares opened at $213.38 on Friday, maintaining a market capitalization of $66.05 billion. The company reported earnings of $1.90 per share for the last quarter, surpassing analyst expectations of $1.78. However, revenue for the quarter was slightly below consensus estimates at $4.21 billion, compared to the anticipated $4.25 billion. Despite these fluctuations, Republic Services experienced a year-over-year revenue growth of 3.3%, and it is projected that the company will post an earnings per share of 6.86 for the current year.
Republic Services also declared its quarterly dividend of $0.625, set to be distributed on January 15, with an ex-dividend date of January 2. This signifies a $2.50 annual dividend, yielding 1.2%, with a payout ratio of 37.20%.
Looking ahead, analysts remain optimistic about Republic Services, with the Goldman Sachs Group initiating coverage with a “buy” rating and a price target of $255. Other financial institutions have also provided various ratings and price objectives, suggesting a generally favorable outlook for the company. According to MarketBeat data, Republic Services holds an average rating of “Moderate Buy” with an average target price of $251.10.
Overall, Republic Services continues to navigate market dynamics with resilience, garnering interest from various institutional investors and maintaining a strong position in the environmental services sector.