Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,893 shares of the business services provider’s stock after selling 1,776 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Republic Services were worth $14,659,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FinTrust Capital Advisors LLC lifted its holdings in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in Republic Services in the first quarter valued at $34,000. Millburn Ridgefield Corp acquired a new stake in Republic Services in the third quarter valued at $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Republic Services in the third quarter valued at $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’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 transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RSG shares. Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a report on Friday, March 15th. BMO Capital Markets lifted their price target on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lifted their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wells Fargo & Company lifted their price target on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Stock Down 0.0 %

RSG opened at $188.94 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $59.51 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.30 and a beta of 0.68. The business has a 50-day moving average of $185.57 and a two-hundred day moving average of $168.49. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.57.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

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.