BI Asset Management Fondsmaeglerselskab A S Sells 10,244 Shares of Republic Services, Inc. $RSG

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Republic Services stake by 44.1% in the first quarter, selling 10,244 shares and leaving it with 13,002 shares worth about $2.85 million.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus the $1.64 consensus and revenue of $4.11 billion, slightly ahead of estimates. Revenue rose 2.6% year over year.
• The company also declared a quarterly dividend of $0.625 per share, payable July 15, which equals an annualized yield of about 1.2%. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $243.26.

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,002 shares of the business services provider's stock after selling 10,244 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Republic Services were worth $2,848,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings 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 valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock valued at $4,329,000 after acquiring an additional 3,303 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock valued at $7,322,000 after acquiring an additional 1,044 shares during the period. Treasurer of the State of North Carolina boosted 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 worth $23,336,000 after acquiring an additional 688 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock valued at $2,871,000 after purchasing an additional 4,729 shares during the period. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

RSG stock opened at $209.19 on Wednesday. The stock has a 50-day moving average price of $207.09 and a two-hundred day moving average price of $214.07. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $251.17. The stock has a market cap of $64.36 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 3.36 and a beta of 0.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

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

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services's dividend payout ratio is 36.15%.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. Weiss Ratings lowered shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Barclays raised their price objective on Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Robert W. Baird reduced their target price on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company increased their price target on Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, March 18th. Finally, Wolfe Research initiated coverage on Republic Services in a research report on Friday, March 13th. They issued a "peer perform" rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $243.26.

Insider Activity at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 987,150 shares of company stock valued at $202,366,682 over the last ninety days. Company insiders own 0.12% of the company's stock.

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.

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