Private Trust Co. NA Sells 175 Shares of Republic Services, Inc. (NYSE:RSG)

Private Trust Co. NA reduced its stake in Republic Services, Inc. (NYSE:RSG) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,436 shares of the business services provider’s stock after selling 175 shares during the period. Private Trust Co. NA’s holdings in Republic Services were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares during the last quarter. Legal & General Group Plc raised its holdings in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after buying an additional 92,013 shares during the last quarter. TD Asset Management Inc grew its holdings in Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp increased its position in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after acquiring an additional 3,809 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Republic Services by 1.9% during the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RSG shares. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Trading Up 0.5 %

NYSE:RSG opened at $217.83 on Tuesday. Republic Services, Inc. has a one year low of $159.10 and a one year high of $218.90. The company has a market cap of $68.21 billion, a PE ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50-day moving average of $204.81 and a 200-day moving average of $199.22.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, equities research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s payout ratio is 37.12%.

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.