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

Fulton Bank N.A. cut its holdings in Republic Services, Inc. (NYSE:RSG) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,674 shares of the business services provider’s stock after selling 229 shares during the quarter. Fulton Bank N.A.’s holdings in Republic Services were worth $738,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RSG. RFG Advisory LLC lifted its stake in shares of Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after purchasing an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Republic Services by 2.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after buying an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Republic Services by 2.9% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after acquiring an additional 54 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 55 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Republic Services by 1.2% in the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen raised their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. CIBC increased their price objective on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, William Blair started coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.65.

Republic Services Stock Performance

NYSE RSG opened at $202.06 on Wednesday. Republic Services, Inc. has a fifty-two week low of $142.65 and a fifty-two week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $63.64 billion, a P/E ratio of 35.45, a PEG ratio of 3.21 and a beta of 0.69. The stock has a 50-day simple moving average of $202.68 and a two-hundred day simple moving average of $195.02.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, equities analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. Republic Services’s payout ratio is presently 40.70%.

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.