Skandinaviska Enskilda Banken AB publ Cuts Stake in Republic Services, Inc. $RSG

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,997 shares of the business services provider’s stock after selling 3,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Republic Services were worth $11,097,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Republic Services in the first quarter worth about $220,000. Federated Hermes Inc. boosted its holdings in Republic Services by 2.2% during the 1st quarter. Federated Hermes Inc. now owns 14,250 shares of the business services provider’s stock valued at $3,451,000 after acquiring an additional 307 shares during the period. Moors & Cabot Inc. grew its position in Republic Services by 4.2% during the 1st quarter. Moors & Cabot Inc. now owns 6,765 shares of the business services provider’s stock worth $1,638,000 after acquiring an additional 274 shares during the last quarter. Finally, TIAA Trust National Association increased its stake in Republic Services by 24.9% in the 1st quarter. TIAA Trust National Association now owns 4,108 shares of the business services provider’s stock worth $995,000 after purchasing an additional 820 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RSG shares. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a report on Tuesday. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. The Goldman Sachs Group started coverage on shares of Republic Services in a research note on Monday, November 24th. They set a “buy” rating and a $255.00 price objective for the company. Stifel Nicolaus cut their target price on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, National Bankshares lowered their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $250.45.

Republic Services Price Performance

Shares of RSG stock opened at $217.06 on Friday. The business’s fifty day moving average is $217.90 and its 200 day moving average is $232.85. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market cap of $67.19 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a twelve month low of $199.43 and a twelve month high of $258.75.

Republic Services (NYSE:RSG) last announced its earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio is 37.20%.

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.