Hsbc Holdings PLC Acquires 2,592 Shares of Republic Services, Inc. $RSG

Hsbc Holdings PLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 454,624 shares of the business services provider’s stock after buying an additional 2,592 shares during the period. Hsbc Holdings PLC’s holdings in Republic Services were worth $96,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services during the 4th quarter worth about $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services in the 3rd quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Republic Services in the 3rd quarter valued at about $29,000. Prosperity Bancshares Inc acquired a new stake in Republic Services during the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Republic Services during the fourth quarter worth approximately $32,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider directly 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have acquired 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $217.27 on Friday. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $208.07 and its 200 day simple moving average is $214.23. The firm has a market capitalization of $66.85 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.40.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 35.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RSG. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Barclays upped their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wolfe Research assumed coverage on shares of Republic Services in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. UBS Group decreased their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.26.

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.