Lombard Odier Asset Management Switzerland SA Boosts Stock Position in Republic Services, Inc. $RSG

Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 21.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,856 shares of the business services provider’s stock after buying an additional 8,203 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Republic Services were worth $10,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. CBIZ Investment Advisory Services LLC raised its position in Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock worth $94,000 after acquiring an additional 45 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Republic Services by 0.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider’s stock valued at $2,216,000 after purchasing an additional 48 shares during the period. Williams Jones Wealth Management LLC. increased its stake in shares of Republic Services by 2.6% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock worth $408,000 after purchasing an additional 49 shares in the last quarter. AlphaCentric Advisors LLC raised its position in shares of Republic Services by 5.9% during the 1st quarter. AlphaCentric Advisors LLC now owns 903 shares of the business services provider’s stock worth $198,000 after purchasing an additional 50 shares during the last quarter. Finally, ICONIQ Capital LLC lifted its stake in Republic Services by 3.3% in the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the sale, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RSG shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Robert W. Baird lowered their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Citigroup raised their price objective on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $243.89.

Republic Services Trading Down 0.3%

RSG opened at $216.79 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50 day simple moving average is $212.24 and its two-hundred day simple moving average is $214.85. The firm has a market capitalization of $66.70 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.63 and a beta of 0.40. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.25.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 35.87%.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.