Private Bank & Trust Co. reduced its stake in Republic Services, Inc. (NYSE:RSG) by 15.7% during the first quarter, Holdings Channel reports. The institutional investor owned 8,894 shares of the company’s stock after selling 1,660 shares during the period. Private Bank & Trust Co.’s holdings in Republic Services were worth $558,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. TNB Financial bought a new stake in shares of Republic Services during the first quarter valued at about $277,000. Capstone Asset Management Co. boosted its stake in shares of Republic Services by 9.5% in the first quarter. Capstone Asset Management Co. now owns 38,314 shares of the company’s stock valued at $2,407,000 after buying an additional 3,340 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Republic Services by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 73,895 shares of the company’s stock valued at $4,641,000 after buying an additional 900 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Republic Services by 7.7% in the first quarter. Raymond James Trust N.A. now owns 5,024 shares of the company’s stock valued at $315,000 after buying an additional 360 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp boosted its stake in shares of Republic Services by 0.8% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 419,621 shares of the company’s stock valued at $26,356,000 after buying an additional 3,265 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.
Republic Services, Inc. (NYSE:RSG) traded down 0.51% on Thursday, reaching $62.19. 1,291,469 shares of the company’s stock traded hands. Republic Services, Inc. has a 12-month low of $45.56 and a 12-month high of $63.84. The stock has a 50 day moving average price of $62.48 and a 200 day moving average price of $56.82. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 34.94 and a beta of 0.59.
Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm earned $2.38 billion during the quarter, compared to analyst estimates of $2.36 billion. Republic Services had a net margin of 6.40% and a return on equity of 9.62%. Republic Services’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts forecast that Republic Services, Inc. will post $2.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.06%. Republic Services’s dividend payout ratio (DPR) is presently 74.85%.
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Several brokerages recently issued reports on RSG. Wedbush raised their target price on shares of Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, March 30th. Barclays PLC cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $55.00 to $57.00 in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Tuesday, February 28th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Republic Services in a report on Friday, February 17th. Finally, Stifel Nicolaus raised their target price on shares of Republic Services from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, February 13th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Republic Services currently has an average rating of “Hold” and an average price target of $64.56.
In related news, insider Donald W. Slager sold 112,500 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $61.55, for a total transaction of $6,924,375.00. Following the completion of the transaction, the insider now owns 359,517 shares in the company, valued at approximately $22,128,271.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey A. Hughes sold 22,895 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $60.50, for a total transaction of $1,385,147.50. Following the transaction, the executive vice president now owns 18,220 shares of the company’s stock, valued at approximately $1,102,310. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,996 shares of company stock valued at $9,575,351. 0.50% of the stock is currently owned by company insiders.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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