Bank Julius Baer & Co. Ltd Zurich Lowers Stake in Republic Services, Inc. (NYSE:RSG)

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,446 shares of the business services provider's stock after selling 22,847 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.05% of Republic Services worth $26,294,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Republic Services by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider's stock valued at $948,971,000 after purchasing an additional 44,512 shares during the period. Morgan Stanley raised its holdings in shares of Republic Services by 4.1% during the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider's stock worth $720,297,000 after purchasing an additional 197,654 shares during the period. Nordea Investment Management AB lifted its stake in Republic Services by 2.9% during the third quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider's stock valued at $547,473,000 after buying an additional 107,499 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Republic Services by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider's stock valued at $531,237,000 after buying an additional 13,166 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Republic Services by 4.8% during the third quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider's stock valued at $338,605,000 after buying an additional 109,437 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of NYSE RSG traded down $1.64 during midday trading on Friday, reaching $191.92. 1,824,385 shares of the company traded hands, compared to its average volume of 1,212,939. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $193.82. The firm has a market cap of $60.45 billion, a PE ratio of 35.34, a PEG ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock's 50-day simple moving average is $187.13 and its 200-day simple moving average is $170.17.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the company earned $1.13 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, April 1st. Republic Services's dividend payout ratio is currently 39.12%.

Insider Buying and Selling at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares of the company's stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Republic Services from $180.00 to $188.00 and gave the company an "overweight" rating in a research note on Tuesday, February 6th. Royal Bank of Canada assumed coverage on Republic Services in a report on Monday, April 8th. They issued a "sector perform" rating and a $198.00 price objective on the stock. Jefferies Financial Group increased their price objective on Republic Services from $213.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, March 18th. The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price target on Republic Services from $190.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $199.77.

Republic Services Company Profile

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.

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