Comerica Bank Cuts Holdings in Republic Services, Inc. (NYSE:RSG)

Comerica Bank decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,729 shares of the business services provider's stock after selling 1,569 shares during the period. Comerica Bank's holdings in Republic Services were worth $14,028,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. boosted its position in Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock worth $445,000 after purchasing an additional 48 shares during the last quarter. Access Financial Services Inc. grew its position in Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock valued at $1,243,000 after buying an additional 51 shares during the period. Tower Wealth Partners Inc. increased its holdings in Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock worth $341,000 after buying an additional 54 shares during the last quarter. Umpqua Bank boosted its stake in Republic Services by 3.2% in the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock valued at $374,000 after acquiring an additional 56 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of Republic Services by 3.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider's stock valued at $349,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Down 0.5 %

Shares of NYSE RSG opened at $249.46 on Friday. The business has a 50-day moving average of $238.28 and a 200-day moving average of $220.68. The firm has a market capitalization of $77.95 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 3.64 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $251.93.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. Republic Services's dividend payout ratio is 34.99%.

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RSG shares. Argus set a $260.00 price objective on Republic Services in a research note on Tuesday, February 18th. Citigroup lifted their price objective on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 4th. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $249.00.

Republic Services Company 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.

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