J. Safra Sarasin Holding AG Acquires 133,914 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• J. Safra Sarasin Holding AG increased its stock position in Republic Services, Inc. by 96.7%, acquiring a total of 272,340 shares and making it their 25th largest position.
• Research analysts are optimistic about Republic Services, with ten rating it as a hold, twelve as a buy, and two as a strong buy, alongside a target price averaging $258.89.
• Republic Services recently announced an increase in its quarterly dividend from $0.58 to $0.625 per share, reflecting a positive change in shareholder returns.

J. Safra Sarasin Holding AG increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 96.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272,340 shares of the business services provider's stock after purchasing an additional 133,914 shares during the period. Republic Services makes up 1.2% of J. Safra Sarasin Holding AG's holdings, making the stock its 25th largest position. J. Safra Sarasin Holding AG owned approximately 0.09% of Republic Services worth $65,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Banco Santander S.A. acquired a new position in shares of Republic Services during the 1st quarter worth about $225,000. PNC Financial Services Group Inc. boosted its stake in shares of Republic Services by 4.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 50,272 shares of the business services provider's stock worth $12,174,000 after buying an additional 2,079 shares during the last quarter. TIAA Trust National Association raised its holdings in shares of Republic Services by 24.9% in the 1st quarter. TIAA Trust National Association now owns 4,108 shares of the business services provider's stock valued at $995,000 after purchasing an additional 820 shares during the period. Commerce Bank raised its holdings in shares of Republic Services by 3.8% in the 1st quarter. Commerce Bank now owns 230,854 shares of the business services provider's stock valued at $55,904,000 after purchasing an additional 8,539 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in shares of Republic Services by 4.2% in the 1st quarter. Moors & Cabot Inc. now owns 6,765 shares of the business services provider's stock valued at $1,638,000 after purchasing an additional 274 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Trading Up 0.3%

NYSE RSG traded up $0.59 during mid-day trading on Friday, reaching $231.24. 1,481,289 shares of the stock were exchanged, compared to its average volume of 1,484,712. Republic Services, Inc. has a one year low of $193.75 and a one year high of $258.75. The stock has a 50 day simple moving average of $245.82 and a 200-day simple moving average of $238.77. The stock has a market cap of $72.20 billion, a P/E ratio of 34.21, a P/E/G ratio of 3.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 34.32%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RSG shares. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Scotiabank increased their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Finally, Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

About Republic Services

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.