Republic Services, Inc. (NYSE:RSG) Shares Sold by Washington Trust Bank

Washington Trust Bank trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,933 shares of the business services provider's stock after selling 2,888 shares during the quarter. Republic Services makes up 1.5% of Washington Trust Bank's investment portfolio, making the stock its 25th largest position. Washington Trust Bank's holdings in Republic Services were worth $14,998,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Republic Services during the 4th quarter worth $553,039,000. GAMMA Investing LLC raised its position in Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after purchasing an additional 2,220,487 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after buying an additional 499,237 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Republic Services by 170.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after buying an additional 368,395 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Republic Services by 176.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider's stock worth $110,298,000 after buying an additional 350,221 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of NYSE RSG traded down $0.52 during midday trading on Thursday, hitting $239.99. The company's stock had a trading volume of 1,561,192 shares, compared to its average volume of 1,149,628. The firm has a market cap of $75.00 billion, a P/E ratio of 36.20, a P/E/G ratio of 3.67 and a beta of 0.61. Republic Services, Inc. has a 1-year low of $188.82 and a 1-year high of $258.75. The firm's fifty day moving average price is $248.52 and its 200-day moving average price is $234.08. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 earnings per share. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.97%. Republic Services's dividend payout ratio is currently 34.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RSG. Robert W. Baird boosted their price target on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Morgan Stanley lifted their price target on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. UBS Group raised their target price on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Oppenheimer lifted their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $255.21.

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.