Republic Services, Inc. $RSG Shares Bought by Oddo BHF Asset Management Sas

Key Points

• Oddo BHF Asset Management Sas increased its stake in Republic Services by 22.3% in the fourth quarter, adding 9,964 shares and bringing its total holding to 54,702 shares valued at about $11.6 million.
• Insider activity was mixed: Cascade Investment bought 366,000 shares in May, while Director Sandra M. Volpe sold 1,800 shares in June. Overall, insiders acquired 987,150 shares worth about $202.4 million over the last 90 days.
• Republic Services beat quarterly earnings expectations, reporting $1.70 EPS on revenue of $4.11 billion, and it also announced a quarterly dividend of $0.625 per share, implying a 1.2% annual yield.

Oddo BHF Asset Management Sas raised its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,702 shares of the business services provider's stock after acquiring an additional 9,964 shares during the period. Oddo BHF Asset Management Sas' holdings in Republic Services were worth $11,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. SteelPeak Wealth LLC raised its holdings in shares of Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider's stock valued at $2,625,000 after buying an additional 7,001 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Republic Services by 68.8% during the third quarter. Citigroup Inc. now owns 352,462 shares of the business services provider's stock valued at $80,883,000 after buying an additional 143,704 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Republic Services by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider's stock valued at $711,003,000 after buying an additional 409,142 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Republic Services by 11.5% during the third quarter. Rathbones Group PLC now owns 93,182 shares of the business services provider's stock valued at $21,383,000 after buying an additional 9,611 shares during the last quarter. Finally, Numerai GP LLC bought a new stake in shares of Republic Services during the third quarter valued at approximately $7,934,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares of the company's stock, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 987,150 shares of company stock worth $202,366,682 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

Republic Services Price Performance

NYSE RSG opened at $207.96 on Tuesday. The stock has a market capitalization of $63.98 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.45 and a beta of 0.41. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $252.45. The business's fifty day moving average is $208.53 and its two-hundred day moving average is $214.45. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. On average, research analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services's dividend payout ratio is currently 36.15%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Citigroup cut their price target on Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. UBS Group dropped their target price on Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Finally, BMO Capital Markets dropped their target price on Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $243.26.

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.

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