Royal Bank of Canada lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 51.5% in the first quarter, Holdings Channel reports. The institutional investor owned 214,382 shares of the business services provider’s stock after selling 227,827 shares during the quarter. Royal Bank of Canada’s holdings in Republic Services were worth $16,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its holdings in shares of Republic Services by 17.1% during the 4th quarter. CSat Investment Advisory L.P. now owns 854 shares of the business services provider’s stock worth $76,000 after buying an additional 125 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Republic Services by 1.0% during the 1st quarter. RFG Advisory LLC now owns 12,627 shares of the business services provider’s stock worth $948,000 after buying an additional 131 shares during the last quarter. Colony Group LLC increased its holdings in shares of Republic Services by 0.3% during the 4th quarter. Colony Group LLC now owns 38,637 shares of the business services provider’s stock worth $3,463,000 after buying an additional 134 shares during the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of Republic Services by 3.7% during the 4th quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the business services provider’s stock worth $349,000 after buying an additional 136 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of Republic Services by 13.3% during the 1st quarter. Trust Co. of Vermont now owns 1,191 shares of the business services provider’s stock worth $89,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 56.88% of the company’s stock.

RSG has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Republic Services from $108.00 to $87.00 in a report on Tuesday, March 31st. UBS Group lowered their price objective on shares of Republic Services from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Oppenheimer lowered their price objective on shares of Republic Services from $109.00 to $89.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Deutsche Bank lowered their price objective on shares of Republic Services from $102.00 to $82.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised shares of Republic Services from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $102.00 to $85.00 in a research report on Monday, March 30th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $89.54.

In other news, CFO Charles F. Serianni sold 1,500 shares of Republic Services stock in a transaction on Monday, April 20th. The shares were sold at an average price of $79.85, for a total transaction of $119,775.00. Following the completion of the sale, the chief financial officer now directly owns 45,656 shares of the company’s stock, valued at approximately $3,645,631.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Timothy E. Stuart sold 3,580 shares of Republic Services stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $80.00, for a total transaction of $286,400.00. Following the sale, the chief operating officer now directly owns 18,290 shares of the company’s stock, valued at $1,463,200. The disclosure for this sale can be found here. Insiders sold a total of 6,580 shares of company stock valued at $528,470 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Shares of RSG stock opened at $80.52 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a 52 week low of $65.37 and a 52 week high of $100.91. The stock has a market capitalization of $25.51 billion, a PE ratio of 23.71, a P/E/G ratio of 2.90 and a beta of 0.63. The firm has a 50 day moving average of $82.90 and a two-hundred day moving average of $86.31.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Republic Services had a net margin of 10.45% and a return on equity of 13.47%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company posted $0.73 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 2.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.405 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.62 annualized dividend and a yield of 2.01%. Republic Services’s dividend payout ratio is presently 48.50%.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

Further Reading: Recession

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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