SEB Asset Management AB Invests $10.23 Million in Republic Services, Inc. $RSG

Key Points

• SEB Asset Management AB opened a new position in Republic Services during the first quarter, buying 46,701 shares worth about $10.23 million.
• Republic Services has continued to attract institutional and insider activity, with hedge funds owning 57.73% of the stock and Cascade Investment adding shares, while director Sandra M. Volpe recently sold a large portion of her holdings.
• The company reported better-than-expected first-quarter earnings of $1.70 per share on $4.11 billion in revenue, and it also paid a quarterly dividend of $0.625 per share, yielding about 1.1%.

SEB Asset Management AB bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,701 shares of the business services provider's stock, valued at approximately $10,228,000.

Several other institutional investors have also added to or reduced their stakes in RSG. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services in the fourth quarter valued at $25,000. Prosperity Bancshares Inc purchased a new position in shares of Republic Services in the fourth quarter valued at $30,000. Sound Income Strategies LLC bought a new stake in Republic Services in the fourth quarter worth $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Republic Services during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Robert W. Baird dropped their price target on Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Barclays boosted their price objective on Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada raised their price objective on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $243.89.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra M. Volpe sold 1,800 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director directly owned 58 shares of the company's stock, valued at $12,254.24. This represents a 96.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company's stock.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $220.83 on Tuesday. 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 company has a market capitalization of $67.94 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.72 and a beta of 0.40. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25. The firm's 50-day moving average is $211.40 and its 200 day moving average is $214.74.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. Research analysts predict that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services's dividend payout ratio is 35.87%.

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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