JPMorgan Chase & Co. Has $456.63 Million Stake in Republic Services (RSG)

JPMorgan Chase & Co. increased its holdings in shares of Republic Services (NYSE:RSG) by 5.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,894,618 shares of the business services provider’s stock after acquiring an additional 367,769 shares during the period. JPMorgan Chase & Co. owned approximately 2.10% of Republic Services worth $456,630,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Republic Services by 2.1% during the 1st quarter. BlackRock Inc. now owns 20,456,218 shares of the business services provider’s stock valued at $1,354,817,000 after acquiring an additional 425,547 shares during the period. American Century Companies Inc. grew its position in shares of Republic Services by 5.4% during the 4th quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock valued at $532,952,000 after acquiring an additional 405,985 shares during the period. Wells Fargo & Company MN grew its position in shares of Republic Services by 4.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,426,154 shares of the business services provider’s stock valued at $366,863,000 after acquiring an additional 224,249 shares during the period. Geode Capital Management LLC grew its position in shares of Republic Services by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 2,884,821 shares of the business services provider’s stock valued at $194,696,000 after acquiring an additional 285,988 shares during the period. Finally, OppenheimerFunds Inc. grew its position in shares of Republic Services by 86.2% during the 4th quarter. OppenheimerFunds Inc. now owns 2,335,645 shares of the business services provider’s stock valued at $157,913,000 after acquiring an additional 1,081,097 shares during the period. Hedge funds and other institutional investors own 60.16% of the company’s stock.

A number of equities research analysts have recently commented on RSG shares. BMO Capital Markets dropped their target price on Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, February 7th. UBS initiated coverage on Republic Services in a report on Wednesday, March 14th. They issued a “buy” rating and a $78.00 price objective on the stock. Credit Suisse Group lowered their price objective on Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Finally, Bank of America lifted their price objective on Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.14.

In other news, Director Ramon A. Rodriguez sold 8,118 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $66.62, for a total transaction of $540,821.16. Following the transaction, the director now directly owns 4,118 shares in the company, valued at approximately $274,341.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Tomago Collins sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $67.95, for a total value of $305,775.00. Following the transaction, the director now owns 13,441 shares in the company, valued at $913,315.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,854 shares of company stock worth $1,478,800. Insiders own 0.30% of the company’s stock.

RSG stock opened at $67.71 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.53 and a current ratio of 0.53. Republic Services has a 12-month low of $60.26 and a 12-month high of $69.40. The stock has a market capitalization of $22.19 billion, a P/E ratio of 27.86, a PEG ratio of 1.98 and a beta of 0.54.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.06. Republic Services had a return on equity of 11.29% and a net margin of 13.18%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the firm posted $0.55 EPS. Republic Services’s revenue was up 1.4% compared to the same quarter last year. analysts expect that Republic Services will post 3.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, June 29th. Republic Services’s dividend payout ratio is currently 56.79%.

About Republic Services

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.

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

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