Swiss National Bank Buys 37,000 Shares of Republic Services, Inc. $RSG

Key Points

• Swiss National Bank increased its stake in Republic Services by 6.2% in the first quarter, buying 37,000 additional shares and bringing its total holding to 635,930 shares worth about $139.3 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 purchased 987,150 shares worth about $202.4 million over the last quarter.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus estimates of $1.64 and revenue of $4.11 billion. The company also paid a quarterly dividend of $0.625 per share, implying an annualized yield of about 1.1%.

Swiss National Bank increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 635,930 shares of the business services provider's stock after purchasing an additional 37,000 shares during the period. Swiss National Bank owned 0.21% of Republic Services worth $139,281,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new stake in Republic Services during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services in the 3rd quarter worth $26,000. Prosperity Bancshares Inc purchased a new stake in shares of Republic Services during the 4th quarter valued at $30,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Republic Services during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction 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 trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RSG. Citigroup lifted their price target on Republic Services from $247.00 to $259.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Royal Bank Of Canada raised their price objective on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Argus lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. Finally, Robert W. Baird decreased their price target on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.89.

Republic Services Stock Performance

NYSE:RSG opened at $220.83 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm's fifty day simple moving average is $211.40 and its 200 day simple moving average is $214.74. The stock has a market cap of $67.94 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25.

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 for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is currently 35.87%.

About Republic Services

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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