Washington Trust Bank lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,933 shares of the business services provider's stock after selling 2,888 shares during the period. Republic Services makes up about 1.5% of Washington Trust Bank's portfolio, making the stock its 25th largest holding. Washington Trust Bank's holdings in Republic Services were worth $14,998,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares during the period. New Age Alpha Advisors LLC lifted its holdings in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after acquiring an additional 73 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Republic Services during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR bought a new stake in shares of Republic Services during the 4th quarter worth approximately $45,000. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Republic Services during the 1st quarter worth approximately $76,000. Institutional investors own 57.73% of the company's stock.
Republic Services Stock Performance
NYSE RSG traded down $3.35 during trading hours on Tuesday, reaching $239.13. 1,893,460 shares of the company were exchanged, compared to its average volume of 1,144,740. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $74.73 billion, a P/E ratio of 36.07, a P/E/G ratio of 3.72 and a beta of 0.61. The business's 50 day simple moving average is $248.90 and its 200-day simple moving average is $234.00. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company earned $1.45 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.
Republic Services Dividend Announcement
The company also recently declared 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 yield of 0.97%. Republic Services's dividend payout ratio is currently 34.99%.
Wall Street Analyst Weigh In
RSG has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $280.00 target price (up previously from $268.00) on shares of Republic Services in a report on Monday, June 9th. Finally, Truist Financial boosted their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $252.68.
Read Our Latest Analysis on Republic Services
About Republic Services
(
Free Report)
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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