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

Key Points

• Fjarde AP Fonden cut its stake in Republic Services by 7.9% in the fourth quarter, selling 11,200 shares and ending with 130,174 shares valued at about $27.6 million.
• Cascade Investment bought 366,000 shares in May, a transaction worth about $74.0 million, bringing its total ownership to more than 110.3 million shares.
• Republic Services reported better-than-expected Q1 results with EPS of $1.70 versus $1.64 expected, and it also announced a quarterly dividend of $0.625 per share payable July 15.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,174 shares of the business services provider's stock after selling 11,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Republic Services were worth $27,588,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RSG. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services during the fourth quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services during the third quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in shares of Republic Services during the third quarter worth $29,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services during the fourth quarter worth $32,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Republic Services by 100.0% during the third quarter. Westside Investment Management Inc. now owns 172 shares of the business services provider's stock worth $39,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares of the company's stock, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 987,150 shares of company stock valued at $202,366,682 over the last 90 days. Corporate insiders own 0.12% of the company's stock.

Republic Services Trading Up 1.3%

Shares of RSG stock opened at $210.59 on Friday. The company's 50-day moving average price is $209.81 and its 200-day moving average price is $214.75. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $255.47. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market cap of $64.79 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.42 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last posted its 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. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. Republic Services's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. 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 presently 35.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Robert W. Baird lowered 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. Barclays boosted their price target on shares of Republic Services from $227.00 to $233.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Wells Fargo & Company boosted 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $245.15.

Republic Services 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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