Swiss National Bank Trims Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• The Swiss National Bank reduced its stake in Republic Services, Inc. by 0.5%, now holding approximately 0.20% of the company worth around $149.7 million.
• Republic Services recently announced a quarterly dividend of $0.625 per share, reflecting an increase from its previous dividend of $0.58, with a yield of 1.1%.
• As of now, Republic Services has received ratings ranging from "hold" to "strong buy," with an average rating of "Moderate Buy" and a consensus price target of $262.17.

Swiss National Bank decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,330 shares of the business services provider's stock after selling 2,800 shares during the period. Swiss National Bank owned 0.20% of Republic Services worth $149,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares during the period. Key Financial Inc boosted its holdings in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in Republic Services in the first quarter worth $49,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Republic Services during the fourth quarter worth $44,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Republic Services stock traded up $1.72 during mid-day trading on Monday, hitting $236.93. 904,235 shares of the company traded hands, compared to its average volume of 1,304,345. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average price of $243.75 and a 200-day moving average price of $239.49.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business posted $1.61 earnings per share. Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services's payout ratio is presently 36.98%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Raymond James Financial lifted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Oppenheimer upped their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

About Republic Services

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.