Bank of New York Mellon Corp Sells 12,398 Shares of Republic Services, Inc. $RSG

Bank of New York Mellon Corp cut its stake in Republic Services, Inc. (NYSE:RSG) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,295,229 shares of the business services provider’s stock after selling 12,398 shares during the quarter. Bank of New York Mellon Corp’s holdings in Republic Services were worth $297,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Republic Services by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,057,995 shares of the business services provider’s stock worth $4,699,892,000 after acquiring an additional 296,719 shares in the last quarter. Geode Capital Management LLC grew its position in Republic Services by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,821,387 shares of the business services provider’s stock worth $1,187,328,000 after purchasing an additional 144,003 shares in the last quarter. Norges Bank purchased a new stake in Republic Services in the 2nd quarter valued at about $690,313,000. Franklin Resources Inc. lifted its position in shares of Republic Services by 10.1% during the 2nd quarter. Franklin Resources Inc. now owns 2,379,682 shares of the business services provider’s stock worth $586,854,000 after buying an additional 218,114 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Republic Services by 21.3% in the 2nd quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock worth $573,443,000 after buying an additional 408,885 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth acquired 478 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the purchase, the director owned 5,740 shares in the company, valued at $1,202,300.40. This trade represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RSG shares. Barclays dropped their price target on Republic Services from $237.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. The Goldman Sachs Group assumed coverage on Republic Services in a research note on Monday, November 24th. They set a “buy” rating and a $255.00 target price on the stock. Scotiabank reduced their price target on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Republic Services in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.82.

Republic Services Price Performance

RSG opened at $215.28 on Friday. The firm has a 50-day moving average price of $213.54 and a 200-day moving average price of $222.19. Republic Services, Inc. has a twelve month low of $201.42 and a twelve month high of $258.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $66.64 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.55 and a beta of 0.55.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. Republic Services’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. Equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.