Lombard Odier Asset Management Europe Ltd Purchases 5,066 Shares of Republic Services, Inc. $RSG

Lombard Odier Asset Management Europe Ltd boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 7.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 72,013 shares of the business services provider’s stock after buying an additional 5,066 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Republic Services were worth $15,772,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. SteelPeak Wealth LLC lifted its holdings in shares of Republic Services by 130.0% during the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock valued at $2,625,000 after buying an additional 7,001 shares during the period. iA Global Asset Management Inc. grew its position in Republic Services by 18.5% during the fourth quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock valued at $13,606,000 after buying an additional 10,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Republic Services by 23.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,952 shares of the business services provider’s stock valued at $6,984,000 after acquiring an additional 6,194 shares during the period. Guyasuta Investment Advisors Inc. increased its stake in shares of Republic Services by 2.0% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 344,535 shares of the business services provider’s stock worth $73,017,000 after purchasing an additional 6,820 shares in the last quarter. Finally, Norges Bank purchased a new stake in Republic Services in the fourth quarter worth about $617,165,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.3%

Shares of NYSE RSG opened at $216.79 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $212.24 and a two-hundred day simple moving average of $214.85. The firm has a market cap of $66.70 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 3.63 and a beta of 0.40. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25.

Republic Services (NYSE:RSG) last announced its 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 return on equity of 18.57% and a net margin of 13.00%.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 prior year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 7.29 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were paid a $0.625 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is presently 35.87%.

Insider Buying and Selling at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of Republic Services 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 transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RSG. UBS Group reduced their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings downgraded Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Barclays lifted their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Citigroup lifted their price target on shares of Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada lifted their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $243.89.

Republic Services Company 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.