Zurcher Kantonalbank Zurich Cantonalbank Has $15.47 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Republic Services, Inc. (NYSE:RSG) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,616 shares of the business services provider’s stock after selling 6,515 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Republic Services were worth $15,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Capital World Investors raised its stake in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank acquired a new position in Republic Services during the fourth quarter worth about $358,837,000. TD Asset Management Inc raised its stake in Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after acquiring an additional 1,393,918 shares in the last quarter. M&G Plc acquired a new position in Republic Services during the first quarter worth about $130,892,000. Finally, Corient Private Wealth LLC raised its stake in Republic Services by 136.5% during the fourth quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock worth $59,681,000 after acquiring an additional 208,902 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus boosted their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group boosted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Scotiabank boosted their price target on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services has a consensus rating of “Hold” and a consensus target price of $211.00.

Republic Services Stock Down 0.7 %

Shares of NYSE:RSG traded down $1.42 during trading on Thursday, reaching $205.93. 1,164,717 shares of the stock were exchanged, compared to its average volume of 1,182,873. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69. The stock has a fifty day moving average of $198.89 and a two-hundred day moving average of $191.05. The firm has a market cap of $64.85 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is presently 40.70%.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Republic Services news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.