JPMorgan Chase & Co. trimmed its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,016,973 shares of the business services provider’s stock after selling 81,300 shares during the period. JPMorgan Chase & Co.’s holdings in Republic Services were worth $639,388,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in Republic Services in the 3rd quarter valued at about $26,000. Laurel Wealth Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in shares of Republic Services during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC acquired a new position in shares of Republic Services during the 4th quarter valued at about $32,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Republic Services during the 3rd quarter valued at about $50,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.
Republic Services Stock Performance
Shares of RSG opened at $209.93 on Wednesday. The business’s fifty day moving average price is $209.45 and its 200 day moving average price is $214.67. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $253.38. The stock has a market capitalization of $64.59 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 3.37 and a beta of 0.41. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.
Republic Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.
Analysts Set New Price Targets
A number of research firms have recently commented on RSG. JPMorgan Chase & Co. upped their price objective on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Royal Bank Of Canada increased their target price on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wolfe Research initiated coverage on shares of Republic Services in a research report on Friday, March 13th. They set a “peer perform” rating for the company. Finally, Robert W. Baird lowered their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.26.
Check Out Our Latest Analysis on Republic Services
Insider Transactions at Republic Services
In related news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the purchase, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 987,150 shares of company stock valued at $202,366,682 in the last quarter. Company insiders own 0.12% of the company’s stock.
Republic Services Profile
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
Featured Stories
- Five stocks we like better than Republic Services
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG – Free Report).
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.
