Republic Services, Inc. $RSG Stock: Pictet Asset Management Holding SA Increases Holdings

Pictet Asset Management Holding SA increased its stake in Republic Services, Inc. (NYSE:RSG) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,814,825 shares of the business services provider’s stock after buying an additional 345,719 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Republic Services were worth $590,761,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. Korea Investment CORP bought a new stake in Republic Services in the second quarter valued at about $20,602,000. Equitable Holdings Inc. acquired a new stake in Republic Services in the second quarter worth $1,381,000. Bridgewater Advisors Inc. bought a new stake in Republic Services in the 2nd quarter valued at about $535,000. Public Employees Retirement System of Ohio bought a new stake in shares of Republic Services during the second quarter valued at approximately $16,335,000. Finally, Rakuten Investment Management Inc. bought a new stake in Republic Services during the 2nd quarter valued at $7,032,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, October 30th. Weiss Ratings raised shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Royal Bank Of Canada boosted their target price on Republic Services from $272.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Republic Services from $245.00 to $265.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Finally, The Goldman Sachs Group decreased their price objective on Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $249.32.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 324,810 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the completion of the purchase, the insider directly owned 117,058,444 shares of the company’s stock, valued at approximately $26,091,156,583.16. The trade was a 0.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian A. Bales sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $244.00, for a total value of $829,600.00. Following the sale, the executive vice president owned 17,616 shares in the company, valued at approximately $4,298,304. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 6,254,462 shares of company stock valued at $1,380,321,958 over the last three months. 0.12% of the stock is owned by company insiders.

Republic Services Trading Down 1.1%

Republic Services stock opened at $246.75 on Friday. The company’s fifty day moving average price is $224.95 and its two-hundred day moving average price is $217.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.64. Republic Services, Inc. has a one year low of $196.41 and a one year high of $254.39. The company has a market capitalization of $75.17 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 4.10 and a beta of 0.32.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company earned $1.90 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, January 4th. This represents a $2.68 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio is presently 37.07%.

Republic Services Company Profile

Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.

The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.