Keybank National Association OH Lowers Position in Republic Services, Inc. $RSG

Keybank National Association OH lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 424,728 shares of the business services provider’s stock after selling 9,157 shares during the period. Keybank National Association OH owned approximately 0.14% of Republic Services worth $93,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. SteelPeak Wealth LLC increased its position in shares of Republic Services by 130.0% in the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after acquiring an additional 7,001 shares in the last quarter. Rathbones Group PLC lifted its holdings in shares of Republic Services by 11.5% during the 3rd quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider’s stock valued at $21,383,000 after acquiring an additional 9,611 shares in the last quarter. Numerai GP LLC purchased a new stake in Republic Services during the 3rd quarter worth $7,934,000. CIBC Bancorp USA Inc. acquired a new stake in Republic Services in the 3rd quarter valued at $7,079,000. Finally, Natixis Advisors LLC raised its position in Republic Services by 8.6% in the third quarter. Natixis Advisors LLC now owns 203,444 shares of the business services provider’s stock valued at $46,687,000 after purchasing an additional 16,027 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Robert W. Baird decreased their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Barclays upped their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.26.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have acquired 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by company insiders.

Republic Services Stock Up 1.2%

Shares of NYSE:RSG opened at $217.27 on Friday. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $66.85 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.53 and a beta of 0.40. The company has a fifty day simple moving average of $207.83 and a 200 day simple moving average of $214.21.

Republic Services (NYSE:RSG) last released its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio is presently 36.15%.

Republic Services Company Profile

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.