First Interstate Bank Decreases Stock Position in Republic Services, Inc. (NYSE:RSG)

First Interstate Bank cut its stake in Republic Services, Inc. (NYSE:RSG) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,347 shares of the business services provider’s stock after selling 73 shares during the quarter. First Interstate Bank’s holdings in Republic Services were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RSG. FinTrust Capital Advisors LLC raised its stake in Republic Services by 56.3% in the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in Republic Services in the first quarter valued at $34,000. Millburn Ridgefield Corp acquired a new stake in Republic Services in the third quarter valued at $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Republic Services in the third quarter valued at $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

RSG traded up $0.23 during trading on Tuesday, reaching $187.47. The company’s stock had a trading volume of 1,479,865 shares, compared to its average volume of 1,185,647. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $192.57. The company’s fifty day moving average price is $184.72 and its 200-day moving average price is $167.88. The company has a market capitalization of $59.05 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.29 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 6 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s payout ratio is 39.12%.

Analyst Ratings Changes

A number of research firms have recently commented on RSG. Jefferies Financial Group lifted their target price on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Oppenheimer lifted their target price on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Royal Bank of Canada began coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price on the stock. Stifel Nicolaus lifted their target price on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Wells Fargo & Company lifted their target price on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Transactions at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

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.