Washington Trust Bank Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Washington Trust Bank lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,821 shares of the business services provider’s stock after selling 1,976 shares during the quarter. Republic Services makes up approximately 1.3% of Washington Trust Bank’s holdings, making the stock its 28th largest holding. Washington Trust Bank’s holdings in Republic Services were worth $13,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. raised its position in shares of Republic Services by 2.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 48 shares in the last quarter. Access Financial Services Inc. raised its position in shares of Republic Services by 0.8% in the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 52 shares in the last quarter. Tower Wealth Partners Inc. raised its position in shares of Republic Services by 3.3% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 54 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Republic Services by 11.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

Shares of RSG opened at $232.95 on Friday. The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a one year low of $180.92 and a one year high of $240.95. The stock’s fifty day moving average is $224.90 and its 200-day moving average is $212.62.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $1.41 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Analyst Ratings Changes

RSG has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their target price on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Argus set a $260.00 price objective on Republic Services in a research note on Tuesday, February 18th. Finally, Truist Financial restated a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

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.