Lombard Odier Asset Management Europe Ltd Buys 5,066 Shares of Republic Services, Inc. $RSG

Lombard Odier Asset Management Europe Ltd boosted its stake in Republic Services, Inc. (NYSE:RSG) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,013 shares of the business services provider’s stock after purchasing an additional 5,066 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Republic Services were worth $15,772,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RSG. SteelPeak Wealth LLC increased its stake in Republic Services by 130.0% in the 4th quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider’s stock worth $2,625,000 after acquiring an additional 7,001 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of Republic Services by 18.5% during the 4th quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider’s stock valued at $13,606,000 after acquiring an additional 10,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Republic Services by 23.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,952 shares of the business services provider’s stock valued at $6,984,000 after purchasing an additional 6,194 shares in the last quarter. Norges Bank bought a new stake in Republic Services in the fourth quarter worth $617,165,000. Finally, Guyasuta Investment Advisors Inc. raised its stake in Republic Services by 2.0% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 344,535 shares of the business services provider’s stock valued at $73,017,000 after purchasing an additional 6,820 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.1%

NYSE RSG opened at $210.75 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $238.62. The firm has a market capitalization of $64.84 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 3.52 and a beta of 0.40. The company has a fifty day moving average of $212.57 and a two-hundred day moving average of $215.01.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a $0.67 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 1.3%. This is an increase from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is currently 35.87%.

Wall Street Analyst Weigh In

Several research firms have commented on RSG. Royal Bank Of Canada increased their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. UBS Group dropped their price target on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Argus cut Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.89.

Insider Buying and Selling

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.