Hsbc Holdings PLC Has $96.59 Million Stake in Republic Services, Inc. $RSG

Hsbc Holdings PLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 454,624 shares of the business services provider’s stock after purchasing an additional 2,592 shares during the period. Hsbc Holdings PLC owned 0.15% of Republic Services worth $96,586,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Reflection Asset Management acquired a new stake in shares of Republic Services in the 4th quarter valued at $42,000. Sankala Group LLC bought a new position in Republic Services in the fourth quarter valued at about $58,000. Groupama Asset Managment increased its position in Republic Services by 1.8% in the fourth quarter. Groupama Asset Managment now owns 4,111 shares of the business services provider’s stock worth $871,000 after purchasing an additional 71 shares during the period. Anchor Investment Management LLC increased its position in Republic Services by 7.8% in the fourth quarter. Anchor Investment Management LLC now owns 40,040 shares of the business services provider’s stock worth $8,486,000 after purchasing an additional 2,894 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Republic Services by 30.3% during the 4th quarter. Pacer Advisors Inc. now owns 21,421 shares of the business services provider’s stock valued at $4,540,000 after purchasing an additional 4,978 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $204.87 on Monday. The company has a market cap of $63.03 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 3.37 and a beta of 0.41. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $251.17. The firm has a 50 day moving average of $207.44 and a 200-day moving average of $214.17. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

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

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s payout ratio is presently 36.15%.

Wall Street Analyst Weigh In

RSG has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Wolfe Research assumed coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating on the stock. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Barclays upped their price objective on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company increased their target price on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by company insiders.

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.