Republic Services, Inc. $RSG Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,086 shares of the business services provider’s stock after selling 5,145 shares during the period. Handelsbanken Fonder AB’s holdings in Republic Services were worth $26,086,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. ICONIQ Capital LLC grew its holdings in shares of Republic Services by 3.3% in the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 50 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of Republic Services by 1.1% in the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock valued at $1,094,000 after purchasing an additional 51 shares in the last quarter. Composition Wealth LLC grew its holdings in shares of Republic Services by 1.4% in the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after purchasing an additional 52 shares in the last quarter. AAFMAA Wealth Management & Trust LLC grew its holdings in shares of Republic Services by 0.9% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock valued at $1,393,000 after purchasing an additional 54 shares in the last quarter. Finally, Florida Trust Wealth Management Co grew its holdings in shares of Republic Services by 5.4% in the third quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 54 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSG has been the subject of a number of research reports. Oppenheimer dropped their price objective on shares of Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. UBS Group dropped their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Barclays lifted their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. Finally, Robert W. Baird lowered their price target on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Hold” and a consensus price target of $245.15.

Republic Services Trading Down 1.3%

NYSE RSG opened at $212.21 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75. The stock has a market capitalization of $65.29 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The firm has a 50 day moving average of $213.63 and a two-hundred day moving average of $214.87.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s payout ratio is currently 36.15%.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The stock was acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is currently owned by insiders.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.