LGT Capital Partners LTD. Has $18.72 Million Position in Republic Services, Inc. $RSG

LGT Capital Partners LTD. grew its position in Republic Services, Inc. (NYSE:RSG) by 28.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,900 shares of the business services provider’s stock after purchasing an additional 17,000 shares during the period. LGT Capital Partners LTD.’s holdings in Republic Services were worth $18,718,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC grew its stake in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services in the 1st quarter worth approximately $30,000. NewSquare Capital LLC increased its holdings in Republic Services by 68.5% during the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Atticus Wealth Management LLC bought a new position in Republic Services in the 2nd quarter valued at $39,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Up 1.8%

Shares of NYSE RSG opened at $209.74 on Friday. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The firm’s 50-day moving average is $220.23 and its 200-day moving average is $235.17. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $64.93 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the business posted $1.81 earnings per share. Republic Services’s revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is 37.20%.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RSG. Robert W. Baird set a $240.00 target price on Republic Services in a report on Friday, October 31st. Sanford C. Bernstein started coverage on shares of Republic Services in a research report on Wednesday. They set a “market perform” rating and a $205.00 price target on the stock. Oppenheimer set a $256.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Jefferies Financial Group set a $248.00 target price on shares of Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $250.91.

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.