Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 70,800 Shares of Republic Services, Inc. $RSG

Key Points

• Fjarde AP Fonden increased its stake in Republic Services (NYSE:RSG) by 54.4% in the first quarter, buying 70,800 additional shares and bringing its total holdings to 200,974 shares valued at about $44.0 million.
• Republic Services continues to draw heavy institutional and insider activity, with 57.73% of shares owned by institutions and recent insider trades including a large purchase by Cascade Investment and a sale by director Sandra M. Volpe.
• The company reported better-than-expected quarterly results, with EPS of $1.70 topping estimates and revenue of $4.11 billion slightly above expectations, while also announcing a quarterly dividend of $0.625 per share.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 54.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,974 shares of the business services provider's stock after acquiring an additional 70,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.07% of Republic Services worth $44,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Republic Services during the fourth quarter worth about $617,165,000. Capital World Investors increased its holdings in Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley raised its position in Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Republic Services by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock worth $1,074,513,000 after buying an additional 807,525 shares during the period. Finally, Alyeska Investment Group L.P. grew its position in shares of Republic Services by 118.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,011,541 shares of the business services provider's stock worth $214,376,000 after buying an additional 548,926 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RSG shares. Barclays upped their target price on Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Argus downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Royal Bank Of Canada lifted their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Robert W. Baird reduced their price target on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Eleven 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $243.26.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the business's 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 acquisition, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 58 shares of the company's stock, valued at $12,254.24. This trade represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 987,150 shares of company stock worth $202,366,682 over the last three months. 0.12% of the stock is currently owned by insiders.

Republic Services Stock Performance

Republic Services stock opened at $217.27 on Friday. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $246.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $66.85 billion, a P/E ratio of 31.17, a PEG ratio of 3.53 and a beta of 0.40. The stock's 50 day moving average is $207.83 and its 200 day moving average is $214.21.

Republic Services (NYSE:RSG - Get Free Report) last released its 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 return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share 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. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services's payout ratio is presently 36.15%.

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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