Republic Services, Inc. $RSG Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 104,760 shares of the business services provider’s stock after selling 3,500 shares during the quarter. Republic Services makes up approximately 1.1% of LGT Capital Partners LTD.’s portfolio, making the stock its 29th largest holding. LGT Capital Partners LTD.’s holdings in Republic Services were worth $22,202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RSG. Brighton Jones LLC boosted its position in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. Federated Hermes Inc. boosted its position in shares of Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock valued at $4,329,000 after purchasing an additional 3,303 shares during the period. NewEdge Advisors LLC boosted its position in shares of Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after purchasing an additional 1,044 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Republic Services by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after purchasing an additional 688 shares during the period. Finally, Ieq Capital LLC boosted its position in shares of Republic Services by 68.4% in the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock valued at $2,871,000 after purchasing an additional 4,729 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG 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 current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $63.00 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 3.46 and a beta of 0.41. The stock’s fifty day simple moving average is $209.57 and its 200-day simple moving average is $214.72.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. Republic Services’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is 35.87%.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 in the last quarter. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. BMO Capital Markets lowered their price target on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company lifted their price target on Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, UBS Group lowered their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.26.

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.