Republic Services, Inc. $RSG Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB trimmed its stake in Republic Services by 4.0% in the fourth quarter, selling 5,145 shares and ending with 123,086 shares valued at about $26.1 million.
• Insider buying remains notable: Cascade Investment bought 366,000 shares in May, and insiders overall purchased 987,150 shares worth about $202.4 million over the last quarter.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 topping estimates and revenue of $4.11 billion slightly ahead of forecasts, while also announcing a quarterly dividend of $0.625 per share.

Handelsbanken Fonder AB lessened its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,086 shares of the business services provider's stock after selling 5,145 shares during the quarter. Handelsbanken Fonder AB's holdings in Republic Services were worth $26,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Republic Services by 0.3% during the third quarter. Vanguard Group Inc. now owns 19,107,360 shares of the business services provider's stock valued at $4,384,757,000 after buying an additional 49,365 shares during the period. JPMorgan Chase & Co. grew its position in Republic Services by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider's stock valued at $711,003,000 after buying an additional 409,142 shares during the period. Bank of America Corp DE grew its position in Republic Services by 6.0% during the third quarter. Bank of America Corp DE now owns 2,031,005 shares of the business services provider's stock valued at $466,075,000 after buying an additional 114,291 shares during the period. Ameriprise Financial Inc. grew its position in Republic Services by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 1,458,550 shares of the business services provider's stock valued at $359,695,000 after buying an additional 76,593 shares during the period. Finally, Chilton Investment Co. Inc. lifted its holdings in Republic Services by 4.2% during the third quarter. Chilton Investment Co. Inc. now owns 1,353,587 shares of the business services provider's stock valued at $310,621,000 after purchasing an additional 54,452 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 987,150 shares of company stock worth $202,366,682 over the last quarter. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RSG. Robert W. Baird decreased their price objective on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. UBS Group decreased their price objective on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings downgraded shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Morgan Stanley decreased their price target on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company raised their price target on shares of Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 18th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $245.15.

Republic Services Price Performance

Shares of RSG stock opened at $212.21 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The firm's 50-day moving average is $213.63 and its two-hundred day moving average is $214.87. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75. The company has a market capitalization of $65.29 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping 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 the consensus estimate of $4.10 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. Republic Services's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. 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 payout ratio is 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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