Smithfield Trust Co Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Smithfield Trust Co lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 10,133 shares of the business services provider’s stock after acquiring an additional 865 shares during the period. Smithfield Trust Co’s holdings in Republic Services were worth $2,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RSG. FSA Wealth Management LLC purchased a new position in Republic Services during the third quarter worth $25,000. Arcadia Investment Management Corp MI lifted its position in shares of Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Republic Services during the fourth quarter valued at $32,000. Truvestments Capital LLC acquired a new position in Republic Services in the 3rd quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Republic Services in the 3rd quarter valued at about $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Price Performance

Republic Services stock opened at $235.55 on Wednesday. The firm has a fifty day moving average of $217.11 and a 200-day moving average of $210.28. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $240.95. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $73.56 billion, a P/E ratio of 36.29, a PEG ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the company earned $1.41 EPS. As a group, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Analysts Set New Price Targets

RSG has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

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.