Republic Services, Inc. $RSG Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,459 shares of the business services provider’s stock after selling 9,571 shares during the period. J. Safra Sarasin Holding AG’s holdings in Republic Services were worth $40,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SteelPeak Wealth LLC increased its stake in Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after purchasing an additional 7,001 shares in the last quarter. Numerai GP LLC purchased a new stake in Republic Services during the third quarter valued at about $7,934,000. CIBC Bancorp USA Inc. purchased a new stake in Republic Services during the third quarter valued at about $7,079,000. SG Americas Securities LLC boosted its holdings in shares of Republic Services by 1,337.9% in the fourth quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider’s stock worth $121,995,000 after buying an additional 535,603 shares during the period. Finally, iA Global Asset Management Inc. increased its position in shares of Republic Services by 18.5% in the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock worth $13,606,000 after acquiring an additional 10,000 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $219.00 on Monday. The company has a market capitalization of $67.38 billion, a PE 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. The company’s 50 day moving average price is $209.06 and its 200 day moving average price is $214.41. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.10 billion. During the same quarter last year, the business posted $1.58 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 7.27 EPS 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 of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RSG shares. Royal Bank Of Canada upped their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Robert W. Baird lowered 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. Finally, Citigroup upped their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the business’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 value of $380,304.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders acquired 987,150 shares of company stock worth $202,366,682 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

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.