Forsta AP Fonden Cuts Stake in Republic Services, Inc. $RSG

Forsta AP Fonden lessened its stake in Republic Services, Inc. (NYSE:RSG) by 20.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,200 shares of the business services provider’s stock after selling 11,000 shares during the quarter. Forsta AP Fonden’s holdings in Republic Services were worth $10,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cranbrook Wealth Management LLC grew its holdings in shares of 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 valued at $29,000 after buying an additional 110 shares during the last quarter. TCTC Holdings LLC lifted its position in Republic Services by 113.8% in the 1st 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 in the last quarter. Elequin Capital LP purchased a new stake in Republic Services during the 1st quarter valued at $30,000. NewSquare Capital LLC increased its holdings in shares of Republic Services by 68.5% in the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Atticus Wealth Management LLC purchased a new position in shares of Republic Services in the second quarter worth $39,000. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Republic Services Stock Up 0.3%

RSG opened at $205.84 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 simple moving average is $220.63 and its two-hundred day simple moving average is $235.43. 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 company has a market capitalization of $63.72 billion, a PE ratio of 30.45, a PEG ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. As a group, equities analysts forecast 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. Stockholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird set a $240.00 price objective on Republic Services in a report on Friday, October 31st. Sanford C. Bernstein assumed coverage on shares of Republic Services in a research note on Wednesday. They issued a “market perform” rating and a $205.00 price target for the company. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. Finally, BMO Capital Markets boosted their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.91.

Republic Services 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.