Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 39,500 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Republic Services, Inc. by 52.6%, acquiring 39,500 shares and bringing its total ownership to 114,574 shares valued at $27.75 million.
• Republic Services recently reported quarterly earnings with an EPS of $1.77, slightly exceeding analysts' expectations of $1.76, while revenue was $4.24 billion, slightly below the consensus estimate.
• The company has announced an increase in its quarterly dividend to $0.625 per share, reflecting a positive change from the previous dividend of $0.58, with a current dividend yield of 1.1%.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 52.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,574 shares of the business services provider's stock after purchasing an additional 39,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Republic Services were worth $27,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Key Financial Inc boosted its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC boosted its holdings in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Republic Services in the 4th quarter worth approximately $44,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Republic Services in the 1st quarter worth approximately $49,000. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.4%

Shares of NYSE:RSG opened at $232.70 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The business's 50-day moving average is $242.43 and its 200 day moving average is $239.58. The firm has a market capitalization of $72.65 billion, a P/E ratio of 34.42, a P/E/G ratio of 3.64 and a beta of 0.60. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RSG shares. Melius started coverage on Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a report on Friday, April 25th. Finally, BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

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.

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