Comerica Bank Decreases Stake in Republic Services, Inc. (NYSE:RSG)

Comerica Bank lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,450 shares of the business services provider’s stock after selling 8,806 shares during the quarter. Comerica Bank’s holdings in Republic Services were worth $17,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Capital World Investors increased its position in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares during the last quarter. Norges Bank purchased a new stake in Republic Services during the fourth quarter valued at $358,837,000. TD Asset Management Inc increased its position in Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after acquiring an additional 1,393,918 shares during the last quarter. Finally, Earnest Partners LLC increased its position in Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after acquiring an additional 182,645 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.4 %

NYSE RSG traded down $0.72 during midday trading on Friday, hitting $196.82. 251,516 shares of the company traded hands, compared to its average volume of 1,209,869. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $61.82 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 3.12 and a beta of 0.69. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $206.54. The company’s 50-day simple moving average is $192.86 and its 200-day simple moving average is $186.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.17 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.18%. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Buying and Selling

In other news, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now directly owns 540 shares of the company’s stock, valued at approximately $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth purchased 540 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on RSG. The Goldman Sachs Group upped their price objective on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. UBS Group boosted their price target on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Scotiabank boosted their price target on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target for the company. Finally, Oppenheimer dropped their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.69.

About Republic Services

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.