Republic Services, Inc. (NYSE:RSG) Holdings Cut by Camden National Bank

Camden National Bank trimmed its position in Republic Services, Inc. (NYSE:RSG) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,347 shares of the business services provider’s stock after selling 2,232 shares during the period. Republic Services comprises about 2.1% of Camden National Bank’s investment portfolio, making the stock its 10th largest position. Camden National Bank’s holdings in Republic Services were worth $13,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after acquiring an additional 73,207 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after acquiring an additional 25,350 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after acquiring an additional 1,477,255 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RSG. UBS Group upped their price objective on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Morgan Stanley upped their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group increased their target price on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Price Performance

Shares of NYSE RSG opened at $234.28 on Friday. Republic Services, Inc. has a 1-year low of $180.91 and a 1-year high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The business’s fifty day moving average price is $218.91 and its two-hundred day moving average price is $210.80. The firm has a market capitalization of $73.16 billion, a PE ratio of 36.10, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period last year, the company earned $1.41 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.