Swedbank AB Invests $8.79 Million in Republic Services, Inc. (NYSE:RSG)

Swedbank AB acquired a new position in Republic Services, Inc. (NYSE:RSG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,928 shares of the business services provider’s stock, valued at approximately $8,792,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Heartland Bank & Trust Co purchased a new stake in Republic Services during the 1st quarter worth approximately $215,000. National Wealth Management Group LLC purchased a new stake in Republic Services during the 1st quarter worth approximately $469,000. Garner Asset Management Corp grew its position in Republic Services by 11.9% during the 1st quarter. Garner Asset Management Corp now owns 4,067 shares of the business services provider’s stock worth $779,000 after purchasing an additional 434 shares during the last quarter. Tidal Investments LLC grew its position in Republic Services by 55.1% during the 1st quarter. Tidal Investments LLC now owns 10,093 shares of the business services provider’s stock worth $1,932,000 after purchasing an additional 3,587 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in Republic Services by 1.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 30,409 shares of the business services provider’s stock worth $5,821,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

NYSE RSG traded up $2.46 on Friday, hitting $200.00. The company had a trading volume of 1,612,775 shares, compared to its average volume of 1,325,030. The company has a market capitalization of $62.81 billion, a PE ratio of 35.09, a PEG ratio of 3.18 and a beta of 0.69. The company’s fifty day moving average price is $193.12 and its 200-day moving average price is $186.91. 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 12-month low of $140.23 and a 12-month high of $206.54.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.17 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced 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. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. Republic Services’s dividend payout ratio is presently 37.54%.

Analyst Upgrades and Downgrades

RSG has been the topic of several research analyst reports. Raymond James dropped their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.69.

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.