Lombard Odier Asset Management Europe Ltd Boosts Position in Republic Services, Inc. (NYSE:RSG)

Lombard Odier Asset Management Europe Ltd boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,964 shares of the business services provider’s stock after buying an additional 13,126 shares during the period. Republic Services makes up about 1.3% of Lombard Odier Asset Management Europe Ltd’s holdings, making the stock its 13th largest holding. Lombard Odier Asset Management Europe Ltd’s holdings in Republic Services were worth $26,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RSG. YHB Investment Advisors Inc. bought a new stake in Republic Services during the first quarter worth about $29,000. EntryPoint Capital LLC purchased a new stake in Republic Services in the first quarter worth approximately $29,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the second quarter valued at approximately $36,000. Jones Financial Companies Lllp raised its stake in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Republic Services in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $201.39 on Monday. 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 company has a market cap of $63.42 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The stock’s 50 day simple moving average is $202.28 and its 200-day simple moving average is $193.86.

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

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is 40.70%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RSG. Raymond James dropped their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Oppenheimer dropped their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. CIBC boosted their price objective on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. TD Cowen increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Ten research 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.com, Republic Services currently has a consensus rating of “Hold” and an average target price of $211.00.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

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.