Mechanics Bank Trust Department Sells 185 Shares of Republic Services, Inc. (NYSE:RSG)

Mechanics Bank Trust Department reduced its holdings in Republic Services, Inc. (NYSE:RSGFree Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,642 shares of the business services provider’s stock after selling 185 shares during the quarter. Mechanics Bank Trust Department’s holdings in Republic Services were worth $4,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Republic Services by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after purchasing an additional 44,512 shares during the last quarter. Capital World Investors increased its position in shares of Republic Services by 416.9% during the 4th 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 during the last quarter. Morgan Stanley increased its position in shares of Republic Services by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock valued at $720,297,000 after purchasing an additional 197,654 shares during the last quarter. Northern Trust Corp increased its position in shares of Republic Services by 4.8% during the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock valued at $338,605,000 after purchasing an additional 109,437 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services during the 4th quarter valued at about $358,837,000. 57.73% of the stock is currently owned by institutional investors.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the transaction, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Republic Services news, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at $100,040.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services 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 completion of the sale, the chief marketing officer now directly 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 owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on RSG. Oppenheimer increased their target price on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a report on Friday, March 15th. BMO Capital Markets increased their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. Finally, The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $201.14.

Get Our Latest Stock Report on RSG

Republic Services Stock Down 0.3 %

Shares of NYSE:RSG traded down $0.61 during trading on Tuesday, hitting $194.05. The stock had a trading volume of 433,043 shares, compared to its average volume of 1,165,697. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76. The company has a market capitalization of $61.11 billion, a PE ratio of 34.15, a PEG ratio of 3.22 and a beta of 0.68. The firm’s fifty day moving average is $188.29 and its 200 day moving average is $180.47. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSGGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Republic Services Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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