Republic Services, Inc. (NYSE:RSG) Holdings Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,337 shares of the business services provider’s stock after selling 1,007 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Republic Services were worth $21,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 in the last quarter. Norges Bank purchased a new position in Republic Services in the fourth quarter valued at about $358,837,000. Massachusetts Financial Services Co. MA grew its stake in Republic Services by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,091,482 shares of the business services provider’s stock valued at $179,996,000 after purchasing an additional 5,870 shares in the last quarter. Magellan Asset Management Ltd grew its stake in Republic Services by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 1,058,425 shares of the business services provider’s stock valued at $174,545,000 after purchasing an additional 145,097 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Republic Services by 8.0% in the first quarter. Principal Financial Group Inc. now owns 742,520 shares of the business services provider’s stock valued at $142,148,000 after purchasing an additional 54,877 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction on 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 sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. UBS Group boosted their price target on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their price objective on Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $192.00 to $220.00 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.14.

Republic Services Price Performance

Shares of RSG stock traded up $1.74 during trading hours on Thursday, hitting $198.62. The company had a trading volume of 82,041 shares, compared to its average volume of 1,193,145. The firm has a market capitalization of $62.55 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 3.28 and a beta of 0.69. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $198.62. The firm’s fifty day moving average is $189.23 and its 200 day moving average is $182.98. 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 (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. On average, sell-side analysts predict that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.08%. Republic Services’s payout ratio is currently 37.54%.

Republic Services Profile

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.