Swiss National Bank Increases Position in Republic Services, Inc. $RSG

Swiss National Bank raised its holdings in Republic Services, Inc. (NYSE:RSG) by 6.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 635,930 shares of the business services provider’s stock after acquiring an additional 37,000 shares during the quarter. Swiss National Bank’s holdings in Republic Services were worth $139,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Republic Services by 47.3% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock valued at $35,000 after buying an additional 52 shares during the period. Heartland Bank & Trust Co lifted its holdings in Republic Services by 3.2% during the first quarter. Heartland Bank & Trust Co now owns 2,158 shares of the business services provider’s stock worth $473,000 after buying an additional 67 shares during the period. Kera Capital Partners Inc. boosted its position in Republic Services by 50.6% during the 1st quarter. Kera Capital Partners Inc. now owns 1,782 shares of the business services provider’s stock valued at $390,000 after acquiring an additional 599 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Republic Services by 1.0% in the 1st quarter. Assetmark Inc. now owns 62,097 shares of the business services provider’s stock valued at $13,600,000 after acquiring an additional 619 shares during the period. Finally, C WorldWide Group Holding A S raised its position in shares of Republic Services by 62.5% in the 1st quarter. C WorldWide Group Holding A S now owns 913,159 shares of the business services provider’s stock worth $200,000,000 after acquiring an additional 351,378 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the acquisition, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director directly owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 987,150 shares of company stock valued at $202,366,682 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RSG shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Robert W. Baird cut their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Barclays boosted their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Citigroup raised their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.89.

Republic Services Price Performance

Shares of NYSE RSG opened at $220.83 on Tuesday. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The business’s 50 day moving average price is $211.40 and its 200 day moving average price is $214.74. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $67.94 billion, a P/E ratio of 31.68, a P/E/G ratio of 3.72 and a beta of 0.40.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Republic Services Company Profile

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.