Republic Services, Inc. (NYSE:RSG) Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Republic Services by 4.3%, owning 2,872,235 shares worth approximately $695 million as of the latest Q1 2023 filing.
• Republic Services has recently increased its quarterly dividend to $0.625, representing a boost from the previous $0.58, with an annualized yield of 1.1%.
• Research firms have rated Republic Services positively, with nine analysts

JPMorgan Chase & Co. raised its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,872,235 shares of the business services provider's stock after purchasing an additional 119,158 shares during the period. JPMorgan Chase & Co. owned 0.92% of Republic Services worth $695,541,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after acquiring an additional 170,548 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after acquiring an additional 499,237 shares in the last quarter. Northern Trust Corp increased its position in shares of Republic Services by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock worth $488,106,000 after acquiring an additional 280,542 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after acquiring an additional 224,867 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RSG. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Raymond James Financial raised their price target on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer raised their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. BMO Capital Markets raised their price target on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 0.1%

Republic Services stock opened at $235.36 on Monday. The firm's 50-day moving average is $243.75 and its 200-day moving average is $239.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The company has a market cap of $73.48 billion, a P/E ratio of 34.82, a PEG ratio of 3.67 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the firm posted $1.61 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is 34.32%.

Republic Services Company 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.

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