Rathbones Group PLC Sells 9,503 Shares of Republic Services, Inc. $RSG

Rathbones Group PLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 8.2% during the 1st quarter, HoldingsChannel reports. The firm owned 106,239 shares of the business services provider’s stock after selling 9,503 shares during the quarter. Rathbones Group PLC’s holdings in Republic Services were worth $23,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services during the third quarter worth about $26,000. Prosperity Bancshares Inc acquired a new position in Republic Services during the fourth quarter worth about $30,000. Sound Income Strategies LLC bought a new position in shares of Republic Services in the fourth quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $32,000. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RSG shares. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. UBS Group dropped their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Barclays raised their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $243.89.

Republic Services Trading Down 0.5%

Shares of RSG stock opened at $209.43 on Tuesday. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $238.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market cap of $64.43 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 3.52 and a beta of 0.40. The stock has a 50-day moving average of $212.59 and a 200-day moving average of $215.01.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. On average, equities research analysts forecast that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is currently 35.87%.

About Republic Services

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.