Union Bancaire Privee UBP SA Buys 6,491 Shares of Republic Services, Inc. $RSG

Union Bancaire Privee UBP SA raised its stake in Republic Services, Inc. (NYSE:RSG) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,410 shares of the business services provider’s stock after acquiring an additional 6,491 shares during the period. Republic Services comprises about 0.9% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 21st largest position. Union Bancaire Privee UBP SA owned 0.08% of Republic Services worth $50,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Republic Services by 1,696.6% during the 1st quarter. Sterling Capital Management LLC now owns 16,726 shares of the business services provider’s stock valued at $3,663,000 after purchasing an additional 15,795 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Republic Services during the first quarter worth approximately $2,256,000. Ritholtz Wealth Management raised its stake in shares of Republic Services by 10.2% in the first quarter. Ritholtz Wealth Management now owns 10,055 shares of the business services provider’s stock valued at $2,202,000 after acquiring an additional 929 shares during the last quarter. RFG Advisory LLC boosted its holdings in shares of Republic Services by 26.0% in the 1st quarter. RFG Advisory LLC now owns 10,486 shares of the business services provider’s stock worth $2,297,000 after acquiring an additional 2,163 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Republic Services by 11.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,062 shares of the business services provider’s stock valued at $1,109,000 after purchasing an additional 517 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were 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 approximately $12,254.24. This trade represents a 96.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RSG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. UBS Group reduced their price target on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Republic Services in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Robert W. Baird cut their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.26.

Republic Services Stock Up 1.4%

Republic Services stock opened at $216.46 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $246.82. The company has a fifty day simple moving average of $207.25 and a 200 day simple moving average of $214.06. The company has a market cap of $66.60 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 3.51 and a beta of 0.41.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the business posted $1.58 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Republic Services, Inc. will post 7.28 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 Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 36.15%.

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.