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Forsta AP Fonden Has $13.13 Million Stake in Republic Services, Inc. (NYSE:RSG)

Republic Services logo with Business Services background

Key Points

  • Forsta AP Fonden has reduced its holdings in Republic Services, Inc. by 7.8%, now owning 54,200 shares worth approximately $13.1 million.
  • Republic Services has recently announced a quarterly dividend increase to $0.625 per share, up from $0.58, representing an annualized dividend of $2.50.
  • Analysts have varying ratings on Republic Services, with a consensus rating of "Moderate Buy" and a price target of approximately $262.17.
  • Want stock alerts on Republic Services? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Forsta AP Fonden trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 7.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 54,200 shares of the business services provider's stock after selling 4,600 shares during the period. Forsta AP Fonden's holdings in Republic Services were worth $13,125,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after buying an additional 2,220,487 shares during the period. C WorldWide Group Holding A S purchased a new position in Republic Services during the 1st quarter valued at about $230,013,000. Price T Rowe Associates Inc. MD boosted its position in shares of Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares during the period. Alyeska Investment Group L.P. raised its stake in Republic Services by 170.6% during the fourth 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 in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Republic Services by 176.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider's stock valued at $110,298,000 after acquiring an additional 350,221 shares during the period. 57.73% of the stock is owned by institutional investors.

Republic Services Price Performance

Republic Services stock traded down $1.73 during midday trading on Wednesday, reaching $231.81. The company's stock had a trading volume of 731,415 shares, compared to its average volume of 1,298,286. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock's 50 day simple moving average is $242.86 and its 200 day simple moving average is $239.63. The firm has a market capitalization of $72.37 billion, a PE ratio of 34.31, a P/E/G ratio of 3.70 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion during 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 business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 EPS. On average, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently declared 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 of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Analyst Ratings Changes

Several research analysts recently commented on RSG shares. BMO Capital Markets raised their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Citigroup lifted their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Melius began coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating for the company. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

View Our Latest Research Report on Republic Services

About Republic Services

(Free Report)

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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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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