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

Washington Trust Bank reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,821 shares of the business services provider's stock after selling 1,976 shares during the quarter. Republic Services comprises approximately 1.3% of Washington Trust Bank's investment portfolio, making the stock its 28th largest position. Washington Trust Bank's holdings in Republic Services were worth $13,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. FSA Wealth Management LLC acquired a new stake in shares of Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI increased its stake in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services during the 4th quarter worth $32,000. Truvestments Capital LLC purchased a new stake in shares of Republic Services in the third quarter valued at about $34,000. Finally, Generali Asset Management SPA SGR acquired a new stake in Republic Services during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Stifel Nicolaus raised their target price on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $236.88.

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Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Republic Services Stock Up 0.8 %

NYSE RSG traded up $1.92 during trading hours on Tuesday, hitting $237.91. 832,353 shares of the company were exchanged, compared to its average volume of 1,010,866. Republic Services, Inc. has a 52-week low of $180.92 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 cap of $74.30 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.64 and a beta of 0.73. The company has a 50 day moving average of $226.10 and a two-hundred day moving average of $213.16.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the prior year, the business posted $1.41 EPS. Equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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

Republic Services Profile

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.