Union Bancaire Privee UBP SA Grows Stake in Republic Services, Inc. (NYSE:RSG)

Union Bancaire Privee UBP SA lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,193 shares of the business services provider’s stock after acquiring an additional 9,019 shares during the quarter. Union Bancaire Privee UBP SA owned approximately 0.05% of Republic Services worth $38,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DnB Asset Management AS raised its holdings in Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock worth $14,672,000 after purchasing an additional 28,764 shares in the last quarter. Hickory Point Bank & Trust purchased a new position in shares of Republic Services during the fourth quarter valued at about $790,000. Uniting Wealth Partners LLC bought a new position in Republic Services in the fourth quarter worth about $266,000. BNP Paribas Financial Markets lifted its holdings in Republic Services by 3.4% in the fourth quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider’s stock worth $87,681,000 after buying an additional 14,273 shares during the period. Finally, National Pension Service boosted its position in Republic Services by 3.5% during the 4th quarter. National Pension Service now owns 329,757 shares of the business services provider’s stock valued at $66,341,000 after acquiring an additional 11,128 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group raised their target price on Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Citigroup increased their price objective on Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, April 25th. Finally, Truist Financial lifted their price target on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.68.

Republic Services Stock Performance

RSG stock opened at $248.14 on Thursday. The stock’s 50 day simple moving average is $246.67 and its 200 day simple moving average is $229.50. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $185.07 and a 12-month high of $258.75. The stock has a market capitalization of $77.54 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. Republic Services’s dividend payout ratio (DPR) is 34.99%.

Republic Services 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.