Pictet Asset Management SA Trims Stock Position in Republic Services, Inc. (NYSE:RSG)

Pictet Asset Management SA lessened its position in shares of Republic Services, Inc. (NYSE:RSGGet Rating) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,637,518 shares of the business services provider’s stock after selling 89,828 shares during the quarter. Republic Services comprises approximately 1.1% of Pictet Asset Management SA’s portfolio, making the stock its 12th largest position. Pictet Asset Management SA’s holdings in Republic Services were worth $1,065,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RSG. Allspring Global Investments Holdings LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at approximately $499,246,000. Alliancebernstein L.P. raised its position in shares of Republic Services by 237.3% during the 3rd quarter. Alliancebernstein L.P. now owns 1,056,899 shares of the business services provider’s stock valued at $126,891,000 after buying an additional 743,575 shares during the period. CWM LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at approximately $37,993,000. Morgan Stanley raised its position in shares of Republic Services by 12.7% during the 3rd quarter. Morgan Stanley now owns 2,035,369 shares of the business services provider’s stock valued at $244,366,000 after buying an additional 228,573 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Republic Services by 5,413.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 194,465 shares of the business services provider’s stock valued at $23,377,000 after buying an additional 190,938 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Cascade Investment, L.L.C. purchased 259,085 shares of Republic Services stock in a transaction that occurred on Tuesday, February 22nd. The stock was purchased at an average cost of $117.03 per share, with a total value of $30,320,717.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 710,420 shares of company stock valued at $83,099,992. 0.06% of the stock is owned by corporate insiders.

Several research firms recently weighed in on RSG. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Republic Services from $142.00 to $139.00 and set a “hold” rating for the company in a report on Monday, February 14th. Raymond James lifted their target price on shares of Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. JPMorgan Chase & Co. began coverage on shares of Republic Services in a report on Tuesday, March 1st. They issued a “neutral” rating for the company. Morgan Stanley lifted their target price on shares of Republic Services from $139.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, March 8th. Finally, StockNews.com began coverage on shares of Republic Services in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Republic Services has a consensus rating of “Buy” and a consensus price target of $134.86.

Shares of RSG stock traded down $1.42 on Thursday, reaching $127.72. 1,866,045 shares of the stock were exchanged, compared to its average volume of 1,367,053. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average price is $131.89 and its 200 day moving average price is $131.17. The company has a market capitalization of $40.35 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.91 and a beta of 0.75. Republic Services, Inc. has a twelve month low of $106.46 and a twelve month high of $145.98.

Republic Services (NYSE:RSGGet Rating) last issued its earnings results on Thursday, May 5th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.89 billion. Republic Services had a net margin of 11.54% and a return on equity of 15.65%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post 4.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.44%. Republic Services’s payout ratio is currently 43.60%.

Republic Services Company Profile (Get Rating)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors.

Further Reading

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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