Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Holdings in Republic Services, Inc. $RSG

Banco Bilbao Vizcaya Argentaria S.A. decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,929 shares of the business services provider’s stock after selling 1,643 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Republic Services were worth $2,202,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC grew its position in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. TCTC Holdings LLC grew its holdings in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services in the 1st quarter valued at $30,000. NewSquare Capital LLC lifted its position in Republic Services by 68.5% during the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after acquiring an additional 50 shares during the period. Finally, Atticus Wealth Management LLC purchased a new stake in Republic Services during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird set a $240.00 target price on shares of Republic Services in a report on Friday, October 31st. BMO Capital Markets boosted their price objective on Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. UBS Group dropped their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Wells Fargo & Company assumed coverage on Republic Services in a report on Thursday. They issued an “overweight” rating and a $238.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Republic Services in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $250.91.

Republic Services Stock Up 1.8%

Shares of NYSE RSG opened at $209.74 on Monday. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75. The business’s 50 day moving average is $220.23 and its two-hundred day moving average is $234.97. The firm has a market cap of $64.93 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 3.40 and a beta of 0.57. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is currently 37.20%.

Insiders Place Their Bets

In related news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

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.