Central Pacific Bank Trust Division Purchases 11,771 Shares of Republic Services, Inc. $RSG

Central Pacific Bank Trust Division lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 356.7% during the 2nd quarter, Holdings Channel reports. The firm owned 15,071 shares of the business services provider’s stock after purchasing an additional 11,771 shares during the period. Central Pacific Bank Trust Division’s holdings in Republic Services were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock worth $2,054,820,000 after buying an additional 166,474 shares in the last quarter. Capital World Investors boosted its stake in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its position in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after acquiring an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 acquiring an additional 807,525 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services in the fourth quarter worth about $617,165,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.9%

Shares of Republic Services stock opened at $207.82 on Wednesday. The stock’s 50-day moving average is $212.61 and its 200 day moving average is $214.99. Republic Services, Inc. has a one year low of $196.41 and a one year high of $238.62. The firm has a market cap of $63.94 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 3.51 and a beta of 0.40. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s dividend payout ratio is presently 35.87%.

Insider Buying and Selling at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Republic Services in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Citigroup upped their price target 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. Finally, UBS Group dropped their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.89.

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.