Mechanics Bank Trust Department Sells 800 Shares of Republic Services, Inc. (NYSE:RSG)

Mechanics Bank Trust Department lessened its stake in Republic Services, Inc. (NYSE:RSG) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,842 shares of the business services provider’s stock after selling 800 shares during the quarter. Mechanics Bank Trust Department’s holdings in Republic Services were worth $4,828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YHB Investment Advisors Inc. bought a new stake in shares of Republic Services in the first quarter valued at about $29,000. EntryPoint Capital LLC acquired a new stake in Republic Services during the 1st quarter worth approximately $29,000. Bogart Wealth LLC bought a new stake in shares of Republic Services in the fourth quarter worth $30,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Republic Services during the fourth quarter worth about $34,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. CIBC raised their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Scotiabank boosted their target price on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer cut their target price on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services has an average rating of “Hold” and a consensus price target of $211.00.

Republic Services Price Performance

Republic Services stock traded down $0.27 during midday trading on Friday, hitting $201.22. 901,387 shares of the company’s stock were exchanged, compared to its average volume of 1,356,790. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50-day moving average price of $194.66 and a two-hundred day moving average price of $188.28. The company has a market cap of $63.37 billion, a P/E ratio of 35.30, a PEG ratio of 3.16 and a beta of 0.69. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $206.54.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. 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 dividend yield of 1.15%. Republic Services’s dividend payout ratio is 40.70%.

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.