Bank of New York Mellon Corp Has $286.87 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Bank of New York Mellon Corp grew its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,476,116 shares of the business services provider's stock after purchasing an additional 3,809 shares during the period. Bank of New York Mellon Corp owned approximately 0.47% of Republic Services worth $286,868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Unigestion Holding SA grew its position in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider's stock worth $21,048,000 after buying an additional 122,044 shares during the period. Bank of Nova Scotia increased its stake in Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider's stock valued at $35,357,000 after purchasing an additional 73,651 shares in the last quarter. TCW Group Inc. acquired a new position in Republic Services during the fourth quarter worth $17,903,000. Hsbc Holdings PLC boosted its position in Republic Services by 8.7% during the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider's stock worth $75,297,000 after purchasing an additional 36,484 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider's stock valued at $97,496,000 after buying an additional 55,668 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSG. Stifel Nicolaus lifted their price objective on Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Scotiabank lifted their target price on shares of Republic Services from $211.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 1st. BMO Capital Markets increased their price target on Republic Services from $209.00 to $211.00 and gave the stock a "market perform" rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded Republic Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $211.00.

Republic Services Trading Up 0.1 %

Shares of RSG stock traded up $0.14 during mid-day trading on Tuesday, reaching $206.97. The company's stock had a trading volume of 569,891 shares, compared to its average volume of 1,186,930. The company's 50 day simple moving average is $198.27 and its 200-day simple moving average is $190.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $208.62. The firm has a market capitalization of $65.18 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.03 billion. On average, research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This is a boost from Republic Services's previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services's payout ratio is presently 40.70%.

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.