Washington Trust Bank buys $4,031,370 stake in Republic Services (RSG)

Republic Services (RSG) : Washington Trust Bank scooped up 80,180 additional shares in Republic Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 80,870 shares of Republic Services which is valued at $4,031,370.Republic Services makes up approximately 0.97% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management reduced its stake in RSG by selling 571 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 104,888 shares of RSG which is valued at $5,228,667. Republic Services makes up approx 0.33% of Eqis Capital Management’s portfolio.

Republic Services closed down -0.48 points or -0.95% at $49.92 with 13,15,850 shares getting traded on Tuesday. Post opening the session at $50.45, the shares hit an intraday low of $49.765 and an intraday high of $50.54 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Republic Services reported $0.55 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.55. The company had revenue of $2350.70 million for the quarter, compared to analysts expectations of $2375.07 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Republic Services. Macquarie Initiated Republic Services on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $53.Company shares were Reiterated by Imperial Capital on Aug 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 58 from a previous price target of $52 .

Republic Services Inc. is a provider of services in the domestic non-hazardous solid waste services industry. The Company provides non-hazardous solid waste collection services for commercial industrial municipal and residential customers. The Company operates three geographic operating regions that are also its segments: East Central and West. Each region is organized into several areas and each area contains multiple business units or operating locations. The Company has approximately 340 collection operations owned or operated 198 transfer stations 189 active solid waste landfills and 60 recycling centers. It also operates approximately 72 landfill gas and renewable energy projects. The Company operates in 39 states and Puerto Rico. The Company provides collection transfer recycling and landfill services in all its regions.

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