Republic Services, Inc. $RSG Shares Sold by Camden National Bank

Camden National Bank lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,803 shares of the business services provider’s stock after selling 2,744 shares during the period. Republic Services comprises 2.2% of Camden National Bank’s portfolio, making the stock its 8th largest holding. Camden National Bank’s holdings in Republic Services were worth $15,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC grew its holdings in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the period. NewSquare Capital LLC boosted its position in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP acquired a new stake in Republic Services during the 1st quarter valued at $30,000. Finally, Atticus Wealth Management LLC acquired a new position in shares of Republic Services in the second quarter worth $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on RSG shares. Scotiabank dropped their price objective on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Wells Fargo & Company initiated coverage on Republic Services in a report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective for the company. UBS Group reduced their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Finally, National Bankshares lowered their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Republic Services Stock Up 0.4%

Shares of Republic Services stock opened at $219.21 on Friday. The company has a fifty day moving average price of $218.89 and a 200 day moving average price of $233.99. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $199.43 and a twelve month high of $258.75. The stock has a market cap of $67.86 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is currently 37.20%.

Republic Services Company 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.