Bank Julius Baer & Co. Ltd Zurich Buys 14,360 Shares of Republic Services, Inc. (NYSE:RSG)

Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,965 shares of the business services provider’s stock after buying an additional 14,360 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Republic Services were worth $95,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RSG. Stifel Financial Corp lifted its position in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP increased its stake in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Republic Services during the 4th quarter worth approximately $184,827,000. Nordea Investment Management AB boosted its stake in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after acquiring an additional 460,989 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial reiterated a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, Argus set a $260.00 price target on shares of Republic Services in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Republic Services Price Performance

RSG stock opened at $234.28 on Friday. The firm has a 50 day moving average of $218.91 and a 200-day moving average of $210.80. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $73.16 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business earned $1.41 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s payout ratio is currently 35.75%.

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.