Washington Trust Bank Sells 1,578 Shares of Republic Services, Inc. $RSG

Washington Trust Bank lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,355 shares of the business services provider’s stock after selling 1,578 shares during the quarter. Republic Services makes up 1.3% of Washington Trust Bank’s portfolio, making the stock its 26th biggest holding. Washington Trust Bank’s holdings in Republic Services were worth $14,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Republic Services by 38.5% during the first quarter. OneDigital Investment Advisors LLC now owns 2,925 shares of the business services provider’s stock worth $708,000 after buying an additional 813 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Republic Services by 721.5% during the 1st quarter. Penserra Capital Management LLC now owns 4,461 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 3,918 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Republic Services during the first quarter valued at approximately $211,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Republic Services by 40.2% during the first quarter. Crossmark Global Holdings Inc. now owns 21,087 shares of the business services provider’s stock worth $5,106,000 after buying an additional 6,043 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of RSG opened at $206.53 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $199.43 and a 12-month high of $258.75. The stock has a market cap of $64.48 billion, a P/E ratio of 30.55, a PEG ratio of 3.40 and a beta of 0.57. The company has a 50-day moving average of $224.01 and a two-hundred day moving average of $236.90.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.12. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Analyst Ratings Changes

RSG has been the topic of several recent research reports. UBS Group lowered their target price on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Citigroup dropped their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Stifel Nicolaus decreased their target price on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. National Bankshares reduced their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Finally, Raymond James Financial reissued an “outperform” rating and set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $253.85.

Republic Services 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.