Handelsbanken Fonder AB Sells 3,432 Shares of Republic Services, Inc. (NYSE:RSG)

Handelsbanken Fonder AB decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 125,637 shares of the business services provider’s stock after selling 3,432 shares during the quarter. Handelsbanken Fonder AB’s holdings in Republic Services were worth $30,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RSG. Norges Bank bought a new stake in shares of Republic Services during the 4th quarter worth approximately $553,039,000. GAMMA Investing LLC raised its position in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after purchasing an additional 2,220,487 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Republic Services during the fourth quarter worth $184,827,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock valued at $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Republic Services by 170.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock valued at $117,559,000 after purchasing an additional 368,395 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Down 0.6%

NYSE RSG opened at $247.98 on Wednesday. Republic Services, Inc. has a 12 month low of $185.07 and a 12 month high of $258.75. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $77.49 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. The business’s 50-day moving average price is $246.41 and its two-hundred day moving average price is $229.37.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s dividend payout ratio is presently 34.99%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RSG shares. UBS Group upped their price objective on Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. The Goldman Sachs Group raised their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Robert W. Baird raised their target price on shares of Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Finally, Morgan Stanley upped their price target on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.68.

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.