Lombard Odier Asset Management Switzerland SA Sells 7,076 Shares of Republic Services, Inc. $RSG

Lombard Odier Asset Management Switzerland SA lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 26.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,179 shares of the business services provider’s stock after selling 7,076 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Republic Services were worth $4,976,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RSG. Brighton Jones LLC boosted its stake in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Republic Services in the first quarter valued at about $200,000. Zions Bancorporation National Association UT bought a new stake in Republic Services during the first quarter worth about $373,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services in the 1st quarter valued at $9,432,000. Finally, JPMorgan Chase & Co. grew its holdings in Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock worth $695,541,000 after acquiring an additional 119,158 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 2.4%

Republic Services stock opened at $211.37 on Tuesday. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $65.43 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 3.47 and a beta of 0.54. The company’s 50 day simple moving average is $216.30 and its 200 day simple moving average is $231.32.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, January 2nd. Republic Services’s payout ratio is 37.20%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RSG shares. Wells Fargo & Company initiated coverage on shares of Republic Services in a research report on Thursday, November 13th. They set an “overweight” rating and a $238.00 target price on the stock. Scotiabank reduced their price objective on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. National Bankshares cut their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Finally, Robert W. Baird set a $240.00 price objective on Republic Services in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.45.

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.