US Bancorp DE Sells 2,780 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• US Bancorp DE reduced its stake in Republic Services, Inc. by 1.7%, now holding 161,425 shares valued at approximately $39.1 million.
• Republic Services recently announced a quarterly dividend increase from $0.58 to $0.625 per share, with a yield of 1.1%.
• The company reported earnings of $1.77 per share for the latest quarter, slightly outperforming analyst expectations, with a year-over-year revenue increase of 4.6%.

US Bancorp DE cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 161,425 shares of the business services provider's stock after selling 2,780 shares during the period. US Bancorp DE owned 0.05% of Republic Services worth $39,091,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Capital Management Associates Inc purchased a new stake in shares of Republic Services during the 1st quarter valued at $314,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after buying an additional 4,110 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Republic Services during the 1st quarter valued at $260,000. Finally, GAMMA Investing LLC grew its stake in shares of Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after buying an additional 3,503 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 0.2%

Shares of Republic Services stock traded up $0.39 during midday trading on Monday, reaching $231.60. 1,196,104 shares of the company's stock traded hands, compared to its average volume of 1,484,712. The company has a market cap of $72.31 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.61 and a beta of 0.60. The company's 50 day simple moving average is $245.82 and its 200 day simple moving average is $238.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 52 week low of $193.75 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 36.98%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. Melius started coverage on shares of Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. Oppenheimer increased their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.89.

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.