Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in Republic Services, Inc. $RSG

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Republic Services, Inc. (NYSE:RSG) by 54.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 200,974 shares of the business services provider’s stock after purchasing an additional 70,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Republic Services were worth $44,017,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Federated Hermes Inc. grew its position in Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after purchasing an additional 3,303 shares during the period. NewEdge Advisors LLC raised its stake in Republic Services by 3.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after buying an additional 1,044 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after buying an additional 688 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Republic Services by 68.4% during the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock valued at $2,871,000 after buying an additional 4,729 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.2%

RSG opened at $217.27 on Friday. The stock has a market cap of $66.85 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 3.53 and a beta of 0.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day moving average is $207.83 and its 200 day moving average is $214.21. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $246.25.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $1.58 EPS. Republic Services’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 36.15%.

Analyst Ratings Changes

RSG has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wolfe Research began coverage on Republic Services in a research report on Friday, March 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company upped their price target on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, UBS Group dropped their price objective on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.26.

Insider Activity 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 shares were purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased a total of 987,150 shares of company stock worth $202,366,682 in the last three months. 0.12% of the stock is owned by corporate 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.