Fulton Bank N.A. Decreases Stake in Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Mar 18th, 2023

Fulton Bank N.A. lowered its position in Republic Services, Inc. (NYSE:RSG – Get Rating) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,364 shares of the business services provider’s stock after selling 135 shares during the period. Fulton Bank N.A.’s holdings in Republic Services were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in shares of Republic Services during the 3rd quarter worth $25,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Republic Services by 94.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 206 shares of the business services provider’s stock worth $28,000 after acquiring an additional 100 shares during the period. Guardian Wealth Advisors LLC purchased a new position in shares of Republic Services during the 3rd quarter worth $31,000. Washington Trust Advisors Inc. purchased a new position in shares of Republic Services during the 3rd quarter worth $35,000. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Republic Services by 44.5% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 357 shares of the business services provider’s stock worth $49,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $130.73 on Friday. Republic Services, Inc. has a one year low of $119.72 and a one year high of $149.17. The company has a market cap of $41.32 billion, a PE ratio of 27.87, a P/E/G ratio of 2.80 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.70 and a current ratio of 0.70. The business has a 50-day simple moving average of $126.80 and a 200-day simple moving average of $132.59.

Republic Services (NYSE:RSG – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Republic Services had a return on equity of 16.72% and a net margin of 11.01%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that Republic Services, Inc. will post 5.18 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Monday, April 3rd will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, March 31st. Republic Services’s dividend payout ratio is presently 42.22%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Republic Services from $150.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. UBS Group lowered shares of Republic Services from a “buy” rating to a “neutral” rating in a report on Tuesday, January 10th. StockNews.com assumed coverage on shares of Republic Services in a report on Thursday. They issued a “buy” rating on the stock. Robert W. Baird boosted their price objective on shares of Republic Services from $136.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Finally, BMO Capital Markets dropped their target price on Republic Services from $148.00 to $138.00 and set a “market perform” rating for the company in a research report on Thursday, February 16th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Insider Activity at Republic Services

In other Republic Services news, Director Jennifer M. Kirk purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was purchased at an average cost of $129.60 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now directly owns 4,449 shares of the company’s stock, valued at approximately $576,590.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

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Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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