Republic Services, Inc. $RSG Stock Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer reduced its Republic Services position by 12% in the third quarter, selling 20,639 shares and retaining 150,759 shares valued at approximately $31.7 million. Institutional investors collectively own 57.73% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $249.32. Republic Services recently exceeded quarterly earnings and revenue estimates, reporting $1.94 in EPS and $4.56 billion in revenue.
• Republic Services declared a quarterly dividend of $0.67 per share, equivalent to $2.68 annually and a 1.1% yield. The company’s stock opened at $245.90, near its 12-month high of $249.37.

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,759 shares of the business services provider's stock after selling 20,639 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Republic Services were worth $31,651,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RSG. Bell Investment Advisors Inc acquired a new stake in shares of Republic Services during the second quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in Republic Services in the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Republic Services in the 2nd quarter worth approximately $27,000. Compass Financial Management LLC acquired a new stake in shares of Republic Services during the 2nd quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Republic Services by 47.3% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider's stock valued at $35,000 after buying an additional 52 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 324,810 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the completion of the acquisition, the insider owned 117,058,444 shares of the company's stock, valued at approximately $26,091,156,583.16. This trade represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 6,254,462 shares of company stock valued at $1,380,321,958 in the last three months. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Raymond James Financial set a $235.00 price target on shares of Republic Services in a report on Friday, October 9th. Canadian Imperial Bank of Commerce cut their price objective on Republic Services from $249.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. UBS Group lifted their price objective on Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Robert W. Baird boosted their target price on Republic Services from $242.00 to $245.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $249.32.

Republic Services Price Performance

NYSE RSG opened at $245.90 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $75.30 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 3.75 and a beta of 0.39. The company has a 50 day moving average price of $222.98 and a two-hundred day moving average price of $216.99. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $249.37.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Republic Services, Inc. will post 7.26 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th. Republic Services's payout ratio is presently 37.07%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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