Pictet Asset Management Holding SA Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Pictet Asset Management Holding SA trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,055,818 shares of the business services provider's stock after selling 206,507 shares during the quarter. Republic Services accounts for 1.6% of Pictet Asset Management Holding SA's holdings, making the stock its 4th largest holding. Pictet Asset Management Holding SA owned about 1.94% of Republic Services worth $1,466,393,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RSG. Golden State Wealth Management LLC lifted its stake in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc lifted its stake in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. New Age Alpha Advisors LLC lifted its stake in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Republic Services during the 4th quarter worth $44,000. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services during the 4th quarter worth $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Robert W. Baird increased their price target on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating and issued a $280.00 price target (up from $268.00) on shares of Republic Services in a research note on Monday, June 9th. UBS Group raised their price objective on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $255.21.

Republic Services Trading Up 0.5%

Shares of Republic Services stock traded up $1.22 during trading hours on Friday, hitting $241.39. The company's stock had a trading volume of 207,236 shares, compared to its average volume of 1,154,669. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $75.44 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 3.65 and a beta of 0.61. Republic Services, Inc. has a twelve month low of $188.82 and a twelve month high of $258.75. The firm has a fifty day moving average of $247.43 and a 200-day moving average of $235.67.

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

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. Republic Services's dividend payout ratio is currently 34.99%.

Republic Services Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.