Bank Julius Baer & Co. Ltd Zurich Reduces Position in Republic Services, Inc. (NYSE:RSG)

Bank Julius Baer & Co. Ltd Zurich lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 428,322 shares of the business services provider's stock after selling 15,643 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.14% of Republic Services worth $113,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after buying an additional 144,719 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after purchasing an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Geode Capital Management LLC boosted its stake in Republic Services by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock worth $918,045,000 after purchasing an additional 57,616 shares in the last quarter. Finally, Norges Bank acquired a new stake in Republic Services in the 4th quarter worth approximately $553,039,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

RSG has been the subject of a number of recent analyst reports. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price for the company in a research note on Monday, June 9th. Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Robert W. Baird lifted their price objective on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Truist Financial lifted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.16.

Republic Services Price Performance

NYSE RSG traded up $1.75 on Thursday, hitting $245.02. The company had a trading volume of 1,045,031 shares, compared to its average volume of 1,283,024. The company has a market capitalization of $76.57 billion, a PE ratio of 36.96, a PEG ratio of 3.68 and a beta of 0.61. The company's fifty day moving average price is $247.41 and its 200-day moving average price is $236.78. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 12-month low of $188.82 and a 12-month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.