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

Hsbc Holdings PLC raised its stake in Republic Services, Inc. (NYSE:RSG) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 454,624 shares of the business services provider’s stock after purchasing an additional 2,592 shares during the quarter. Hsbc Holdings PLC’s holdings in Republic Services were worth $96,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RSG. SteelPeak Wealth LLC grew its stake in shares of Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after acquiring an additional 7,001 shares in the last quarter. Citigroup Inc. grew its position in Republic Services by 68.8% in the 3rd quarter. Citigroup Inc. now owns 352,462 shares of the business services provider’s stock worth $80,883,000 after purchasing an additional 143,704 shares in the last quarter. Rathbones Group PLC increased its stake in Republic Services by 11.5% in the 3rd quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider’s stock valued at $21,383,000 after buying an additional 9,611 shares during the last quarter. Numerai GP LLC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $7,934,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $7,079,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on RSG shares. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Wolfe Research began coverage on Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Citigroup lowered their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, UBS Group dropped their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.26.

Republic Services Price Performance

Republic Services stock opened at $204.87 on Monday. The firm has a market capitalization of $63.03 billion, a P/E ratio of 29.39, a PEG ratio of 3.37 and a beta of 0.41. Republic Services, Inc. has a one year low of $196.41 and a one year high of $251.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The business has a fifty day moving average price of $207.44 and a 200-day moving average price of $214.17.

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

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 36.15%.

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.