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

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,855 shares of the business services provider’s stock after selling 1,482 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Republic Services were worth $21,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RSG. YHB Investment Advisors Inc. bought a new stake in shares of Republic Services during the 1st quarter worth about $29,000. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the 1st quarter worth approximately $29,000. Bogart Wealth LLC acquired a new position in shares of Republic Services in the 4th quarter worth approximately $30,000. Jones Financial Companies Lllp grew its stake in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in shares of Republic Services in the 2nd quarter worth approximately $45,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price on the stock. UBS Group upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. CIBC boosted their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $211.00.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Up 0.2 %

RSG traded up $0.33 during midday trading on Tuesday, hitting $205.29. 450,288 shares of the company’s stock traded hands, compared to its average volume of 1,206,579. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $64.65 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69. Republic Services, Inc. has a one year low of $140.23 and a one year high of $206.54. The stock’s fifty day simple moving average is $196.49 and its 200-day simple moving average is $189.56.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s payout ratio is currently 40.70%.

About Republic Services

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.