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

Union Bancaire Privee UBP SA raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.8% in the first quarter, HoldingsChannel reports. The fund owned 234,410 shares of the business services provider’s stock after acquiring an additional 6,491 shares during the period. Republic Services accounts for approximately 0.9% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 21st largest holding. Union Bancaire Privee UBP SA’s holdings in Republic Services were worth $50,903,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the 3rd quarter worth about $26,000. Ameriflex Group Inc. bought a new stake in Republic Services in the 3rd quarter valued at about $29,000. Prosperity Bancshares Inc bought a new position in shares of Republic Services during the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RSG. Weiss Ratings lowered Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. increased their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 987,150 shares of company stock valued at $202,366,682 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

Republic Services Stock Up 1.4%

Shares of NYSE RSG opened at $216.46 on Friday. The stock has a 50-day moving average price of $207.25 and a two-hundred day moving average price of $214.06. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.82. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $66.60 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.51 and a beta of 0.41.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm posted $1.58 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is currently 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.