Republic Services (NYSE:RSG) Given Overweight Rating At JP Morgan, Is a Move on The Horizon?

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How JP Morgan Currently Rates Republic Services (NYSE:RSG)

The brokerage firm JP Morgan has have initiated coverage on Republic Services (NYSE:RSG)’s stock, rating it Overweight. This was distributed in a note on 17 December.

From a total of 10 analysts covering Republic Services (NYSE:RSG) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $50 while the lowest target price is $44. The mean of all analyst targets is $48 with a 6.12% above today’s ($44.29) stock price. Republic Services was the topic of 7 analyst reports since August 19, 2015 according to the firm StockzIntelligence Inc. Bank of America initiated shares on November 8 with “Buy” rating. Imperial Capital maintained RSG stock in a recent report from November 2 with “Outperform” rating. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 27.

Approximately 347,427 shares of stock traded hands. Republic Services, Inc. (NYSE:RSG) has risen 8.79% since May 14, 2015 and is uptrending. It has outperformed by 11.06% the S&P500.

The overall sentiment of institutions has decreased to 0.78 in Q2 2015. Its down 0.07, from 0.85 in 2015Q2. The ratio fall, as 47 institutions have sold all the shares of Republic Services, Inc. that they owned while 202 funds have taken shares off the table. 53 funds have purchased shares for the first time while 140 added to their positions. These institutions now hold 199.48 million shares or 7.00% less than the 214.48 million shares they owned in 2015Q2.

The Fund Rwwm Inc. currently is holding shares equating to 8.63% of its total portfolio in Republic Services, Inc. representing a total of 421,671 shares. Another fund,Corbyn Investment Management Inc Md, is holding a total of 679,801 shares equating to 7.16% of their holdings. Additionally, Sasco Capital Inc Ct has a 5.21 million share stake in Republic Services, Inc. which represents 4.66% of their total portfolio. The Fund, Partners Group Holding Ag, based out of Switzerland, has also built up a stake in the stock, which represents a total of 4.62% of their total portfolio. Finally Sentry Investments Corp., a fund which is based in the state of Ontario – Canada reported a total holdings of 9.06 million shares.

Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of Republic Services, Inc. have witnessed 0 insider purchases, and a total of 2 sales equating to a net activity of approximately $2.68 million . Rissman Michael P sold 3,575 shares worth approximately $150,118. Slager Donald W sold 59,850 shares worth approximately $2.53 million. Cascade Investment Llc bought 1.35M shares worth approximately $54.07 million. Serianni Charles F sold 14,260 shares worth approximately $598,920. The company insider Hughes Jeffrey A sold 100,110 shares worth $4.08 million.

Republic Services, Inc. is a provider of services in the domestic non-hazardous solid waste services industry. The company has a market cap of $15.33 billion. The Firm provides non-hazardous solid waste collection services for commercial, industrial, municipal and residential customers. It has 24.86 P/E ratio. The Firm operates three geographic operating regions that are also its divisions: East, Central and West.

According to Zacks Investment Research, “Republic Services, Inc., is a leading provider of services in the domestic non-hazardous solid waste industry. They provide non-hazardous solid waste collection services for commercial, industrial, municipal and residential customers through their collection companies. They also own or operate transfer stations and solid waste landfills.”

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