Republic Services, Inc. $RSG Position Trimmed by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 5.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 183,459 shares of the business services provider’s stock after selling 9,571 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.06% of Republic Services worth $40,095,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RSG. Norges Bank acquired a new stake in Republic Services during the fourth quarter worth about $617,165,000. Capital World Investors boosted its stake in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley grew its holdings in shares of Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Republic Services by 118.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock worth $214,376,000 after purchasing an additional 548,926 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.1%

NYSE:RSG opened at $219.00 on Monday. The stock has a market cap of $67.38 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 3.68 and a beta of 0.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The business has a fifty day moving average of $209.06 and a 200-day moving average of $214.41.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for 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 company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 earnings per share. Equities analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is 35.87%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RSG. Royal Bank Of Canada boosted their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Robert W. Baird cut their target price 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. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Barclays upped their price target on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, UBS Group cut their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $243.89.

Insider Buying and Selling

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

Republic Services 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.