Royal Bank of Canada Has $155.26 Million Holdings in Republic Services, Inc. $RSG

Royal Bank of Canada boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 10.9% in the first quarter, Holdings Channel reports. The firm owned 708,878 shares of the business services provider’s stock after purchasing an additional 69,558 shares during the quarter. Royal Bank of Canada’s holdings in Republic Services were worth $155,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rithm Capital Corp. increased its position in shares of Republic Services by 92.0% in the first quarter. Rithm Capital Corp. now owns 4,800 shares of the business services provider’s stock valued at $1,051,000 after acquiring an additional 2,300 shares during the last quarter. Empowered Funds LLC boosted its position in Republic Services by 44.2% during the first quarter. Empowered Funds LLC now owns 31,048 shares of the business services provider’s stock valued at $6,800,000 after purchasing an additional 9,514 shares during the last quarter. Quantinno Capital Management LP grew its stake in Republic Services by 66.7% in the first quarter. Quantinno Capital Management LP now owns 176,272 shares of the business services provider’s stock valued at $38,607,000 after purchasing an additional 70,549 shares in the last quarter. BROOKFIELD Corp ON increased its position in shares of Republic Services by 68.4% during the 1st quarter. BROOKFIELD Corp ON now owns 22,502 shares of the business services provider’s stock worth $4,928,000 after purchasing an additional 9,143 shares during the last quarter. Finally, Gateway Wealth Partners LLC bought a new stake in shares of Republic Services during the 1st quarter worth approximately $446,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Down 3.5%

RSG opened at $211.32 on Friday. The stock’s fifty day simple moving average is $212.54 and its 200 day simple moving average is $215.01. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $238.62. The stock has a market cap of $65.01 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.66 and a beta of 0.40. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s payout ratio is presently 35.87%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Republic Services in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays lifted their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Robert W. Baird dropped their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.89.

Insider Transactions at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by company insiders.

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.