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

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,616 shares of the business services provider's stock after selling 6,515 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Republic Services were worth $15,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. RFG Advisory LLC increased its position in shares of Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider's stock worth $2,061,000 after purchasing an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Republic Services by 2.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider's stock worth $362,000 after purchasing an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Republic Services by 2.9% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider's stock worth $364,000 after purchasing an additional 54 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider's stock worth $278,000 after purchasing an additional 55 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Republic Services by 1.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider's stock worth $956,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of NYSE RSG traded down $1.42 during midday trading on Thursday, reaching $205.93. The company's stock had a trading volume of 1,164,717 shares, compared to its average volume of 1,182,873. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The company has a 50 day moving average price of $198.89 and a 200 day moving average price of $191.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The company has a market cap of $64.85 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. On average, equities research analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Republic Services's previous quarterly dividend of $0.54. Republic Services's payout ratio is currently 40.70%.

Analyst Upgrades and Downgrades

RSG has been the subject of several research reports. Robert W. Baird lifted their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. StockNews.com lowered shares of Republic Services from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 1st. Scotiabank lifted their price target on shares of Republic Services from $211.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, May 1st. Oppenheimer decreased their price target on shares of Republic Services from $211.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Finally, UBS Group lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of "Hold" and a consensus price target of $211.00.

Insider Activity

In other news, Director Tomago Collins sold 3,200 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Tomago Collins sold 3,200 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company's stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares of the company's stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.