Bank of New York Mellon Corp Has $297.23 Million Holdings in Republic Services, Inc. $RSG

Bank of New York Mellon Corp lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing 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 period. Bank of New York Mellon Corp owned about 0.41% of Republic Services worth $297,229,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. Stonegate Investment Group LLC increased its position in Republic Services by 0.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 63,508 shares of the business services provider’s stock worth $14,574,000 after purchasing an additional 178 shares in the last quarter. Bensler LLC increased its holdings in shares of Republic Services by 7.6% during the third quarter. Bensler LLC now owns 29,895 shares of the business services provider’s stock worth $6,860,000 after buying an additional 2,116 shares in the last quarter. Triton Financial Group Inc lifted its stake in shares of Republic Services by 2.6% in the 3rd quarter. Triton Financial Group Inc now owns 8,272 shares of the business services provider’s stock valued at $1,898,000 after acquiring an additional 211 shares during the last quarter. Algebris UK Ltd. boosted its holdings in shares of Republic Services by 24.2% during the 3rd quarter. Algebris UK Ltd. now owns 9,220 shares of the business services provider’s stock valued at $2,114,000 after acquiring an additional 1,798 shares in the last quarter. Finally, Quilter Plc grew its position in Republic Services by 22.9% during the 3rd quarter. Quilter Plc now owns 38,488 shares of the business services provider’s stock worth $8,832,000 after acquiring an additional 7,172 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

RSG stock opened at $215.28 on Friday. 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 firm has a market cap of $66.64 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.55 and a beta of 0.55. The company’s fifty day simple moving average is $213.54 and its 200 day simple moving average is $222.19. Republic Services, Inc. has a 12-month low of $201.42 and a 12-month high of $258.75.

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

Insider Buying and Selling

In other news, Director Katharine Weymouth acquired 478 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the acquisition, the director directly owned 5,740 shares in the company, valued at $1,202,300.40. The trade was a 9.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on RSG shares. Barclays cut their price target on Republic Services from $237.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. National Bankshares cut their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Citigroup decreased their price target on shares of Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Jefferies Financial Group set a $248.00 price target on shares of Republic Services and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Bank of America reduced their price objective on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $248.82.

Republic Services 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.