Washington Trust Bank Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Washington Trust Bank reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,933 shares of the business services provider's stock after selling 2,888 shares during the quarter. Republic Services accounts for 1.5% of Washington Trust Bank's investment portfolio, making the stock its 25th biggest holding. Washington Trust Bank's holdings in Republic Services were worth $14,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of 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 purchasing an additional 106 shares during the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $44,000. Generali Asset Management SPA SGR purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $45,000. Finally, Proathlete Wealth Management LLC purchased a new position in shares of Republic Services in the 1st quarter valued at approximately $76,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on RSG shares. Citigroup raised their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Robert W. Baird raised their price target on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 25th. National Bank Financial raised Republic Services to a "hold" rating in a report on Monday, May 26th. Finally, Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. 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. Based on data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and a consensus target price of $255.21.

Republic Services Price Performance

Shares of NYSE RSG traded up $1.27 during trading on Wednesday, reaching $240.58. The company had a trading volume of 1,386,935 shares, compared to its average volume of 1,147,982. Republic Services, Inc. has a twelve month low of $188.82 and a twelve month high of $258.75. The stock has a market capitalization of $75.18 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.67 and a beta of 0.61. The stock has a 50-day moving average price of $248.52 and a two-hundred day moving average price of $234.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

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.