Republic Services, Inc. $RSG Stock Holdings Lowered by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe Ltd cut its Republic Services stake by 29.2% in the fourth quarter, reducing its holdings to 66,947 shares worth about $14.2 million.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus estimates of $1.64 and revenue of $4.11 billion, up 2.6% from a year earlier.
• The company also declared a quarterly dividend of $0.625 per share, and analysts currently rate the stock a consensus Moderate Buy with a price target of $243.26.

Lombard Odier Asset Management Europe Ltd lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 29.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,947 shares of the business services provider's stock after selling 27,613 shares during the period. Lombard Odier Asset Management Europe Ltd's holdings in Republic Services were worth $14,188,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. Norges Bank bought a new position in Republic Services in the 4th quarter valued at about $617,165,000. Capital World Investors grew its position in Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its position in Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after buying an additional 1,490,719 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Republic Services by 118.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider's stock valued at $214,376,000 after buying an additional 548,926 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Republic Services by 1,337.9% in the 4th quarter. SG Americas Securities LLC now owns 575,637 shares of the business services provider's stock valued at $121,995,000 after buying an additional 535,603 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company's stock in a transaction that occurred 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 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director 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 purchased 987,150 shares of company stock worth $202,366,682 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

NYSE RSG opened at $209.30 on Wednesday. The company has a 50 day simple moving average of $208.25 and a 200-day simple moving average of $214.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $64.39 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 3.42 and a beta of 0.41. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $251.17.

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, topping analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Weiss Ratings downgraded shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. UBS Group cut their price target on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Finally, Citigroup reduced their price objective on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.26.

Republic Services Company 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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