Hsbc Holdings PLC cut its stake in Republic Services, Inc. (NYSE:RSG – Free Report) by 11.9% in the first quarter, HoldingsChannel reports. The firm owned 400,573 shares of the business services provider’s stock after selling 54,051 shares during the quarter. Hsbc Holdings PLC’s holdings in Republic Services were worth $87,778,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in Republic Services by 1.7% in the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after acquiring an additional 166,474 shares during the last quarter. Capital World Investors raised its holdings in shares of Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares in the last quarter. Morgan Stanley lifted its position in shares of Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after purchasing an additional 807,525 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Republic Services during the fourth quarter worth $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Republic Services Stock Performance
Shares of RSG stock opened at $222.43 on Monday. The stock’s 50-day moving average is $210.93 and its two-hundred day moving average is $214.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The firm has a market cap of $68.43 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.72 and a beta of 0.40.
Republic Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. Republic Services’s dividend payout ratio is 35.87%.
Insider Buying and Selling at Republic Services
In related news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of Republic Services stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on RSG shares. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Barclays upped their price target on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Citigroup raised their price objective on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.89.
Check Out Our Latest Stock Analysis on RSG
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.
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