Republic Services, Inc. $RSG Position Lessened by LGT Capital Partners LTD.

LGT Capital Partners LTD. decreased its stake in Republic Services, Inc. (NYSE:RSG) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,760 shares of the business services provider’s stock after selling 3,500 shares during the period. Republic Services accounts for 1.1% of LGT Capital Partners LTD.’s portfolio, making the stock its 29th largest position. LGT Capital Partners LTD.’s holdings in Republic Services were worth $22,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Republic Services by 11.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock worth $94,000 after purchasing an additional 45 shares during the last quarter. ICONIQ Capital LLC lifted its holdings in shares of Republic Services by 3.3% in the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after purchasing an additional 50 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Republic Services by 1.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock worth $1,094,000 after purchasing an additional 51 shares during the last quarter. Composition Wealth LLC lifted its holdings in shares of Republic Services by 1.4% in the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock worth $804,000 after purchasing an additional 52 shares during the last quarter. Finally, Garner Asset Management Corp lifted its holdings in shares of Republic Services by 1.2% in the 4th quarter. Garner Asset Management Corp now owns 4,782 shares of the business services provider’s stock worth $1,013,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RSG has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Citigroup cut their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Morgan Stanley cut their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $243.26.

Republic Services Stock Down 2.5%

Shares of Republic Services stock opened at $204.78 on Tuesday. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $253.38. The company has a market capitalization of $63.00 billion, a P/E ratio of 29.38, a PEG ratio of 3.46 and a beta of 0.41. The business’s fifty day moving average price is $209.57 and its two-hundred day moving average price is $214.72. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67.

Republic Services (NYSE:RSG) last issued 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 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 analysts’ expectations of $4.10 billion. During the same period last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 35.87%.

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.