Republic Services, Inc. (NYSE:RSG) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,797 shares of the business services provider’s stock after selling 3,145 shares during the quarter. Republic Services accounts for approximately 1.3% of Washington Trust Bank’s holdings, making the stock its 29th biggest position. Washington Trust Bank’s holdings in Republic Services were worth $13,416,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RSG. TD Asset Management Inc raised its position in Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after acquiring an additional 1,393,918 shares in the last quarter. Capital World Investors raised its position in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares in the last quarter. M&G Plc purchased a new position in Republic Services in the first quarter worth $130,892,000. International Assets Investment Management LLC raised its position in Republic Services by 83,671.9% in the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after acquiring an additional 538,010 shares in the last quarter. Finally, Earnest Partners LLC raised its position in Republic Services by 16.9% in the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after acquiring an additional 182,645 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on RSG shares. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. CIBC raised their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price target on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Trading Up 2.4 %

NYSE:RSG traded up $4.93 during mid-day trading on Thursday, reaching $207.07. The company’s stock had a trading volume of 1,442,313 shares, compared to its average volume of 1,128,396. The company’s fifty day simple moving average is $203.21 and its two-hundred day simple moving average is $197.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a twelve month low of $154.49 and a twelve month high of $208.69. The stock has a market cap of $64.84 billion, a P/E ratio of 33.13, a P/E/G ratio of 3.07 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company earned $1.54 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.