First Hawaiian Bank Sells 225 Shares of Republic Services, Inc. (NYSE:RSG)

First Hawaiian Bank decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,731 shares of the business services provider’s stock after selling 225 shares during the period. First Hawaiian Bank’s holdings in Republic Services were worth $2,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Capital World Investors grew its stake in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares during the last quarter. Norges Bank acquired a new stake in shares of Republic Services during the fourth quarter worth about $358,837,000. Magellan Asset Management Ltd lifted its holdings in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the period. FMR LLC lifted its holdings in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Republic Services during the fourth quarter worth about $77,417,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RSG shares. Oppenheimer lifted their target price on Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada initiated coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target for the company. Jefferies Financial Group boosted their price target on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Truist Financial boosted their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Republic Services Price Performance

Shares of RSG traded up $0.16 during trading hours on Wednesday, hitting $191.85. 771,755 shares of the stock were exchanged, compared to its average volume of 931,796. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $196.76. The company has a market cap of $60.42 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 3.22 and a beta of 0.68. The stock’s 50-day moving average price is $187.96 and its two-hundred day moving average price is $179.61.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.12%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

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.