Handelsbanken Fonder AB Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Handelsbanken Fonder AB reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,637 shares of the business services provider's stock after selling 3,432 shares during the quarter. Handelsbanken Fonder AB's holdings in Republic Services were worth $30,424,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RSG. Versant Capital Management Inc boosted its stake in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after buying an additional 44 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares in the last quarter. FORA Capital LLC boosted its position in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after buying an additional 50 shares during the period. Rothschild Investment LLC grew its stake in shares of Republic Services by 9.3% in the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock worth $145,000 after acquiring an additional 51 shares in the last quarter. Finally, Tower Wealth Partners Inc. raised its stake in shares of Republic Services by 3.3% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock valued at $341,000 after acquiring an additional 54 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of RSG stock traded up $2.02 during mid-day trading on Thursday, reaching $250.26. The stock had a trading volume of 398,161 shares, compared to its average volume of 1,138,810. The company has a market cap of $78.21 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $185.07 and a 12-month high of $258.75. The business has a 50-day simple moving average of $246.67 and a 200 day simple moving average of $229.50.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is currently 34.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on RSG shares. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday. Royal Bank of Canada reiterated an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Melius started coverage on shares of Republic Services in a report on Monday. They issued a "hold" rating for the company. Finally, Morgan Stanley raised their price target on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Ten 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.68.

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.