Skandinaviska Enskilda Banken AB publ Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Republic Services by 9.4%, purchasing 4,141 additional shares, bringing its total holdings to 48,397 shares worth approximately $11.72 million.
• Institutional investors own 57.73% of Republic Services, with notable purchases from other firms, including Norges Bank and Price T Rowe Associates.
• Republic Services declared an increased quarterly dividend of $0.625 per share, with an ex-dividend date set for October 2nd, translating to an annual yield of approximately 1.02%.

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,397 shares of the business services provider's stock after acquiring an additional 4,141 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Republic Services were worth $11,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC increased its holdings in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the last quarter. Key Financial Inc increased its holdings in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after buying an additional 99 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after buying an additional 73 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Republic Services in the fourth quarter valued at $44,000. Finally, Proathlete Wealth Management LLC acquired a new position in Republic Services in the first quarter valued at $76,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG stock traded down $11.35 during midday trading on Wednesday, reaching $234.67. 1,033,925 shares of the company traded hands, compared to its average volume of 1,280,157. The firm's 50 day simple moving average is $247.06 and its two-hundred day simple moving average is $238.10. Republic Services, Inc. has a 1-year low of $192.64 and a 1-year high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $73.33 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 3.67 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.02. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the firm earned $1.61 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Analysts Set New Price Targets

RSG has been the subject of several research analyst reports. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Raymond James Financial upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Morgan Stanley upped their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, UBS Group increased their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $258.68.

Republic Services 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.