Bank of New York Mellon Corp Purchases 158,491 Shares of Republic Services, Inc. (NYSE:RSG)

Bank of New York Mellon Corp grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,587,516 shares of the business services provider’s stock after acquiring an additional 158,491 shares during the quarter. Bank of New York Mellon Corp owned about 0.51% of Republic Services worth $319,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RSG. Assenagon Asset Management S.A. raised its holdings in Republic Services by 15.2% during the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after buying an additional 746 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Republic Services by 29.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,855 shares of the business services provider’s stock worth $2,563,000 after acquiring an additional 2,961 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Republic Services by 6.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 23,710 shares of the business services provider’s stock valued at $4,761,000 after purchasing an additional 1,450 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in Republic Services by 3.8% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after purchasing an additional 55 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its stake in shares of Republic Services by 10.4% in the third quarter. Childress Capital Advisors LLC now owns 1,150 shares of the business services provider’s stock worth $231,000 after purchasing an additional 108 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on RSG. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $211.00 to $238.00 in a research report on Friday, December 6th. UBS Group increased their target price on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group lifted their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Argus set a $260.00 target price on Republic Services in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.41.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $231.66 on Thursday. The firm has a market capitalization of $72.34 billion, a PE ratio of 35.69, a P/E/G ratio of 3.64 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $214.49 and a two-hundred day moving average price of $209.25. Republic Services, Inc. has a twelve month low of $180.91 and a twelve month high of $234.02.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the business earned $1.41 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.00%. Republic Services’s dividend payout ratio is currently 35.75%.

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.