Washington Trust Bank Lowers Holdings in Republic Services, Inc. $RSG

Washington Trust Bank lessened its stake in Republic Services, Inc. (NYSE:RSG) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,787 shares of the business services provider’s stock after selling 7,367 shares during the quarter. Washington Trust Bank’s holdings in Republic Services were worth $11,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. ORG Partners LLC raised its position in shares of Republic Services by 5.8% in the 3rd quarter. ORG Partners LLC now owns 899 shares of the business services provider’s stock worth $206,000 after purchasing an additional 49 shares during the last quarter. ICONIQ Capital LLC raised its position in shares of Republic Services by 3.3% in the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after purchasing an additional 50 shares during the last quarter. Prospera Financial Services Inc raised its position in shares of Republic Services by 1.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock worth $1,094,000 after purchasing an additional 51 shares during the last quarter. Composition Wealth LLC raised its position in shares of Republic Services by 1.4% in the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock worth $804,000 after purchasing an additional 52 shares during the last quarter. Finally, Florida Trust Wealth Management Co raised its position in shares of Republic Services by 5.4% in the 3rd quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock worth $241,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 1.3%

Republic Services stock opened at $197.43 on Tuesday. The firm has a 50 day moving average of $216.68 and a 200 day moving average of $215.33. The firm has a market capitalization of $61.00 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 3.32 and a beta of 0.43. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $258.75. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Republic Services, Inc. will post 7.22 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 36.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RSG. Scotiabank lowered their price target on Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays boosted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Oppenheimer decreased their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $246.30.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.