Central Pacific Bank Trust Division Has $3.21 Million Stake in Republic Services, Inc. $RSG

Central Pacific Bank Trust Division grew its stake in Republic Services, Inc. (NYSE:RSG) by 356.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,071 shares of the business services provider’s stock after acquiring an additional 11,771 shares during the period. Central Pacific Bank Trust Division’s holdings in Republic Services were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of RSG. CX Institutional grew its stake in shares of Republic Services by 7.6% during the second quarter. CX Institutional now owns 3,202 shares of the business services provider’s stock worth $682,000 after purchasing an additional 227 shares during the period. Ballast Advisors LLC bought a new position in Republic Services during the 1st quarter worth about $54,000. Empowered Funds LLC raised its stake in shares of Republic Services by 44.2% in the 1st quarter. Empowered Funds LLC now owns 31,048 shares of the business services provider’s stock valued at $6,800,000 after purchasing an additional 9,514 shares during the period. Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Republic Services by 7.6% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 72,013 shares of the business services provider’s stock valued at $15,772,000 after purchasing an additional 5,066 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Republic Services during the first quarter worth about $2,941,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.9%

RSG stock opened at $207.82 on Wednesday. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 3.51 and a beta of 0.40. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $238.62. The business has a 50 day moving average price of $212.61 and a two-hundred day moving average price of $214.99. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is currently 35.87%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 987,150 shares of company stock valued at $202,366,682 over the last quarter. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RSG shares. Barclays lifted their target price on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Citigroup raised their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Robert W. Baird reduced their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.