Handelsbanken Fonder AB Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Handelsbanken Fonder AB trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,637 shares of the business services provider's stock after selling 3,432 shares during the period. Handelsbanken Fonder AB's holdings in Republic Services were worth $30,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Arcadia Investment Management Corp MI grew its stake in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after acquiring an additional 88 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Republic Services during the fourth quarter worth about $44,000. Generali Asset Management SPA SGR acquired a new position in shares of Republic Services during the fourth quarter worth about $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Republic Services during the fourth quarter worth about $48,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RSG. National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Robert W. Baird upped their price objective on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Truist Financial increased their price target on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Raymond James reissued an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Finally, UBS Group increased their price target on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.68.

Republic Services Price Performance

RSG stock traded down $1.10 during midday trading on Friday, reaching $250.75. 661,699 shares of the stock were exchanged, compared to its average volume of 1,144,228. The stock has a market capitalization of $78.36 billion, a PE ratio of 38.64, a P/E/G ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a 52 week low of $188.14 and a 52 week high of $258.75. The company has a fifty day moving average price of $247.56 and a 200 day moving average price of $229.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company posted $1.45 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Republic Services Company Profile

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.