JPMorgan Chase & Co. Has $628.85 Million Position in Republic Services, Inc. (NYSE:RSG)

JPMorgan Chase & Co. trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,131,081 shares of the business services provider’s stock after selling 519,363 shares during the quarter. JPMorgan Chase & Co. owned 1.00% of Republic Services worth $628,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Wellington Management Group LLP increased its holdings in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the period. Geode Capital Management LLC increased its stake in shares of Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the period. Finally, Legal & General Group Plc increased its position in Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.06.

Republic Services Price Performance

RSG stock opened at $202.88 on Friday. The company has a market capitalization of $63.53 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 3.30 and a beta of 0.71. Republic Services, Inc. has a 52-week low of $162.27 and a 52-week high of $220.58. The business has a 50-day simple moving average of $208.55 and a two-hundred day simple moving average of $203.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Buying and Selling at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Company 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.