Mechanics Bank Trust Department Has $4.83 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Mechanics Bank Trust Department decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,842 shares of the business services provider’s stock after selling 800 shares during the period. Mechanics Bank Trust Department’s holdings in Republic Services were worth $4,828,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Republic Services by 35.2% in the fourth quarter. Allworth Financial LP now owns 699 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 182 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Republic Services by 34,679.9% during the 4th quarter. International Assets Investment Management LLC now owns 185,029 shares of the business services provider’s stock valued at $30,513,000 after acquiring an additional 184,497 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Republic Services during the fourth quarter worth about $34,000. Sequoia Financial Advisors LLC lifted its stake in Republic Services by 58.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,980 shares of the business services provider’s stock worth $656,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Financial Counselors Inc. raised its holdings in shares of Republic Services by 11.8% during the 4th quarter. Financial Counselors Inc. now owns 2,082 shares of the business services provider’s stock worth $343,000 after buying an additional 219 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

NYSE:RSG traded down $0.27 during trading hours on Friday, hitting $201.22. The company’s stock had a trading volume of 901,387 shares, compared to its average volume of 1,356,790. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $206.54. The company has a market capitalization of $63.37 billion, a PE ratio of 35.30, a PEG ratio of 3.16 and a beta of 0.69. The business’s 50-day moving average is $194.66 and its two-hundred day moving average is $188.28. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is 40.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RSG. UBS Group lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. CIBC upped their target price on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $211.00.

Insider Activity

In other news, Director Katharine Weymouth purchased 540 shares of the stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

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.