Truist Financial Corp increases its equity holding in Republic Services, Inc. (NYSE:RSG)


Truist Financial Corp raised its position in Republic Services, Inc. (NYSE: RSGGet a rating) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The company held 27,774 shares of the business services provider after acquiring an additional 997 shares during the period. Truist Financial Corp’s holdings in Republic Services were worth $3,680,000 at the end of the last quarter.

Other hedge funds have also changed their positions in the company. Bank of The West increased its stake in Republic Services by 14.9% in the first quarter. Bank of The West now owns 11,542 shares of the business services provider valued at $1,529,000 after acquiring an additional 1,501 shares in the last quarter. DB Fitzpatrick & Co Inc increased its position in Republic Services by 1.6% in the first quarter. DB Fitzpatrick & Co Inc now owns 18,442 shares of the business services provider valued at $2,444,000 after purchasing an additional 296 shares during the period. CVA Family Office LLC increased its stake in shares of Republic Services by 37.2% in the 1st quarter. CVA Family Office LLC now owns 553 shares of the business services provider valued at $73,000 after buying an additional 150 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Republic Services shares by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the business services provider worth $1,773,000 after buying 100 more shares last quarter. Finally, Hanson & Doremus Investment Management increased its stake in Republic Services by 16.6% in the 1st quarter. Hanson & Doremus Investment Management now owns 626 shares of the business services provider valued at $83,000 after buying 89 additional shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s shares.

Insider Activity at Republic Services

In other Republic Services, CAO news Brian A. Goebel sold 347 shares of the company in a trade that took place on Thursday, June 2. The stock was sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the sale, the chief accounting officer now owns 6,186 shares of the company, valued at $835,171.86. The sale was disclosed in an SEC filing, which is available via this link. Separately, CAO Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. Following the completion of the sale, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this link. Additionally, COO Timothy E. Stuart sold 15,000 shares of the company in a trade dated Tuesday, June 7. The shares were sold at an average price of $135.19, for a total value of $2,027,850.00. Following completion of the transaction, the COO now owns 19,675 shares of the company, valued at approximately $2,659,863.25. Disclosure of this sale can be found here. Insiders own 0.06% of the shares of the company.

Republic services trade up 0.5%

RSG opened at $129.00 on Friday. The company’s 50-day simple moving average is $129.68 and its 200-day simple moving average is $129.46. The company has a market capitalization of $40.75 billion, a P/E ratio of 30.57, a PEG ratio of 2.61 and a beta of 0.73. Republic Services, Inc. has a one-year minimum of $112.62 and a one-year maximum of $145.98. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75.

Services of the Republic (NYSE: RSGGet a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company posted revenue of $2.97 billion in the quarter, versus a consensus estimate of $2.89 billion. In the same quarter of the previous year, the company achieved EPS of $0.93. The company’s revenue increased by 14.4% compared to the same quarter last year. As a group, equity research analysts expect Republic Services, Inc. to post EPS of 4.67 for the current fiscal year.

Republic Services announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.46. This represents an annualized dividend of $1.84 and a dividend yield of 1.43%. The ex-dividend date was Thursday, June 30. Republic Services’ payout ratio is currently 43.60%.

A Wall Street analyst gives his opinion

A number of equity research analysts have weighed in on RSG shares. Morgan Stanley lowered its price target on Republic Services shares from $152.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, June 22 research report. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a price target of $147.00 for the company in a Thursday, June 16 research report. Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the company from $140.00 to $150.00 in a Friday, May 13 research report. StockNews.com began covering Republic Services shares in a research report on Thursday, March 31. They have set a “Strong Buy” rating on the stock. Finally, Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Two analysts gave the stock a hold rating, six gave the stock a buy rating and two gave the company a strong buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $138.14.

About Republic Services

(Get a rating)

Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.

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Want to see which other hedge funds hold RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE: RSGGet a rating).

Institutional ownership by quarter for Republic Services (NYSE:RSG)



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