Republic Services, Inc. $RSG Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 19.4% during the first quarter, Holdings Channel.com reports. The firm owned 3,098,403 shares of the business services provider’s stock after selling 747,817 shares during the quarter. Republic Services accounts for approximately 0.7% of Pictet Asset Management Holding SA’s portfolio, making the stock its 23rd biggest position. Pictet Asset Management Holding SA’s holdings in Republic Services were worth $678,644,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Republic Services in the fourth quarter worth about $617,165,000. Capital World Investors grew its stake in shares of Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares during the last quarter. Morgan Stanley raised its holdings in shares of Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares in the last quarter. Wellington Management Group LLP lifted its stake in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Republic Services by 118.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider’s stock worth $214,376,000 after buying an additional 548,926 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was 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 $12,254.24. This represents a 96.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the acquisition, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

RSG has been the topic of several research reports. Argus cut Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Wolfe Research started coverage on Republic Services in a research note on Friday, March 13th. They set a “peer perform” rating for the company. Royal Bank Of Canada boosted their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Robert W. Baird cut their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Republic Services Stock Performance

Shares of RSG opened at $216.46 on Friday. The company has a market capitalization of $66.60 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. The company’s fifty day moving average price is $207.25 and its 200 day moving average price is $214.06. Republic Services, Inc. has a one year low of $196.41 and a one year high of $246.82. 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 posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. As a group, analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Republic Services 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.