JPMorgan Chase & Co. Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

JPMorgan Chase & Co. reduced its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,753,077 shares of the business services provider's stock after selling 378,004 shares during the period. JPMorgan Chase & Co. owned about 0.88% of Republic Services worth $553,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. raised its stake in shares of Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock valued at $445,000 after acquiring an additional 48 shares in the last quarter. Access Financial Services Inc. grew its position in shares of Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock worth $1,243,000 after buying an additional 51 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Republic Services by 1.0% during the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider's stock worth $1,024,000 after buying an additional 52 shares during the period. Tower Wealth Partners Inc. raised its holdings in Republic Services by 3.3% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock valued at $341,000 after acquiring an additional 54 shares in the last quarter. Finally, Umpqua Bank lifted its stake in Republic Services by 3.2% in the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock worth $374,000 after acquiring an additional 56 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Republic Services Price Performance

RSG traded up $1.84 during trading on Thursday, reaching $246.66. 517,996 shares of the stock were exchanged, compared to its average volume of 1,090,570. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company has a market capitalization of $77.03 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $249.73. The business's 50 day moving average price is $229.51 and its two-hundred day moving average price is $214.60.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations 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 prior year, the company earned $1.41 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.94%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is 35.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RSG shares. Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and upped their target price for the company from $211.00 to $238.00 in a report on Friday, December 6th. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, UBS Group increased their price target on shares of Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $236.88.

Republic Services Profile

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.