Republic Services, Inc. (NYSE:RSG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,131,081 shares of the business services provider's stock after selling 519,363 shares during the period. JPMorgan Chase & Co. owned approximately 1.00% of Republic Services worth $628,846,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RSG. Oddo BHF Asset Management Sas bought a new position in Republic Services during the third quarter valued at $7,157,000. Synovus Financial Corp raised its position in Republic Services by 1.9% in the 3rd quarter. Synovus Financial Corp now owns 14,233 shares of the business services provider's stock worth $2,859,000 after purchasing an additional 259 shares during the period. Tidal Investments LLC boosted its position in shares of Republic Services by 1,061.5% during the third quarter. Tidal Investments LLC now owns 122,331 shares of the business services provider's stock valued at $24,569,000 after buying an additional 111,799 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Republic Services in the third quarter worth approximately $1,065,000. Finally, World Investment Advisors LLC grew its position in Republic Services by 25.8% in the 3rd quarter. World Investment Advisors LLC now owns 3,055 shares of the business services provider's stock valued at $613,000 after acquiring an additional 626 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Oppenheimer lifted their target price on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. CIBC increased their price target on Republic Services from $217.00 to $227.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of Republic Services from $217.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and raised their target price for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average price target of $220.06.

Republic Services Stock Performance

RSG stock traded down $1.22 during trading on Friday, hitting $202.88. 559,618 shares of the company traded hands, compared to its average volume of 1,111,079. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $63.53 billion, a PE ratio of 32.46, a P/E/G ratio of 3.30 and a beta of 0.71. The stock's 50-day simple moving average is $208.55 and its 200 day simple moving average is $203.13. Republic Services, Inc. has a 1 year low of $162.27 and a 1 year high of $220.58.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services's dividend payout ratio (DPR) is 37.12%.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The stock was 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 $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Republic Services Company 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.