Pictet Asset Management Holding SA Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Pictet Asset Management Holding SA boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,262,325 shares of the business services provider’s stock after purchasing an additional 218,729 shares during the quarter. Republic Services comprises 1.4% of Pictet Asset Management Holding SA’s holdings, making the stock its 7th largest holding. Pictet Asset Management Holding SA owned 2.00% of Republic Services worth $1,259,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after acquiring an additional 4,827 shares in the last quarter. TCW Group Inc. raised its holdings in shares of Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Republic Services during the fourth quarter worth $4,430,000. Czech National Bank increased its position in shares of Republic Services by 6.1% in the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock valued at $8,879,000 after acquiring an additional 2,548 shares during the period. Finally, Hickory Point Bank & Trust purchased a new position in Republic Services in the 4th quarter worth $790,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.9 %

Shares of RSG stock opened at $239.98 on Friday. The company has a market capitalization of $74.94 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.64 and a beta of 0.73. 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 50-day moving average price of $227.23 and a 200 day moving average price of $213.52. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $241.09.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter last year, the firm earned $1.41 earnings per share. Research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is currently 35.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RSG shares. UBS Group upped their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Stifel Nicolaus raised their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

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.