Republic Services, Inc. (RSG) Holdings Trimmed by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,928 shares of the business services provider’s stock after selling 8,630 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in Republic Services were worth $13,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bank of America Corp DE grew its position in Republic Services by 11.7% during the second quarter. Bank of America Corp DE now owns 8,681,132 shares of the business services provider’s stock worth $593,441,000 after buying an additional 909,717 shares during the period. Victory Capital Management Inc. grew its position in Republic Services by 0.7% during the second quarter. Victory Capital Management Inc. now owns 2,166,946 shares of the business services provider’s stock worth $148,132,000 after buying an additional 14,244 shares during the period. Morgan Stanley grew its position in Republic Services by 29.7% during the second quarter. Morgan Stanley now owns 1,600,693 shares of the business services provider’s stock worth $109,424,000 after buying an additional 366,972 shares during the period. Bank of New York Mellon Corp grew its position in Republic Services by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,599,330 shares of the business services provider’s stock worth $109,330,000 after buying an additional 9,301 shares during the period. Finally, TD Asset Management Inc. grew its position in Republic Services by 4.1% during the second quarter. TD Asset Management Inc. now owns 1,274,926 shares of the business services provider’s stock worth $87,154,000 after buying an additional 50,476 shares during the period. Institutional investors own 60.87% of the company’s stock.

RSG stock opened at $70.91 on Tuesday. The company has a market capitalization of $22.76 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.20 and a beta of 0.57. Republic Services, Inc. has a 12 month low of $60.26 and a 12 month high of $75.82. The company has a current ratio of 0.56, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. Republic Services had a net margin of 13.90% and a return on equity of 12.11%. Equities analysts anticipate that Republic Services, Inc. will post 3.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.50 annualized dividend and a dividend yield of 2.12%. Republic Services’s dividend payout ratio is presently 61.73%.

Several research analysts have weighed in on RSG shares. Oppenheimer restated a “hold” rating on shares of Republic Services in a research report on Friday. Bank of America upped their target price on shares of Republic Services from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. ValuEngine upgraded shares of Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus increased their price target on shares of Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Republic Services currently has a consensus rating of “Hold” and an average target price of $73.71.

In other news, CEO Donald W. Slager sold 91,334 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $73.04, for a total value of $6,671,035.36. Following the sale, the chief executive officer now directly owns 378,023 shares in the company, valued at $27,610,799.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald W. Slager sold 225,734 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $73.02, for a total transaction of $16,483,096.68. Following the transaction, the insider now directly owns 378,023 shares in the company, valued at approximately $27,603,239.46. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.

Further Reading: Cash Flow Analysis in Stock Selection

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

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