Bank of New York Mellon Corp Has $335.43 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Bank of New York Mellon Corp reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,385,176 shares of the business services provider's stock after selling 202,340 shares during the period. Bank of New York Mellon Corp owned 0.44% of Republic Services worth $335,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC lifted its holdings in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at about $44,000. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter valued at about $45,000. Finally, Proathlete Wealth Management LLC acquired a new stake in shares of Republic Services in the 1st quarter valued at about $76,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $1.07 during trading on Monday, reaching $242.21. 1,466,891 shares of the stock were exchanged, compared to its average volume of 1,142,603. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The firm has a market cap of $75.69 billion, a PE ratio of 36.53, a PEG ratio of 3.69 and a beta of 0.61. The stock has a 50-day moving average price of $248.98 and a 200-day moving average price of $233.73. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is currently 34.99%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RSG shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a research note on Friday, April 25th. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Morgan Stanley lifted their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Robert W. Baird lifted their target price on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Citigroup lifted their target price on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.68.

About Republic Services

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.