Swedbank AB Grows Stake in Republic Services, Inc. $RSG

Key Points

• Swedbank AB increased its stake in Republic Services by 22.1% in the fourth quarter, bringing its holdings to 64,314 shares valued at about $13.63 million.
• Republic Services beat earnings expectations in its latest quarterly report, posting $1.70 EPS versus $1.64 expected on revenue of $4.11 billion, with revenue up 2.6% year over year.
• The company also declared a quarterly dividend of $0.625 per share, payable July 15, for an annualized yield of about 1.2%; analysts currently rate the stock a consensus Hold with an average target price of $245.15.

Swedbank AB lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,314 shares of the business services provider's stock after purchasing an additional 11,660 shares during the period. Swedbank AB's holdings in Republic Services were worth $13,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services during the third quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in Republic Services in the 4th quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Republic Services in the 3rd quarter valued at $29,000. Finally, Sound Income Strategies LLC purchased a new position in Republic Services in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG opened at $206.84 on Wednesday. The firm has a market capitalization of $63.64 billion, a PE ratio of 29.68, a PEG ratio of 3.44 and a beta of 0.43. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75. The firm's 50-day moving average price is $212.33 and its 200 day moving average price is $214.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. Republic Services's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 EPS. As a group, sell-side analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

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 issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services's payout ratio is presently 36.15%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Citigroup lowered their price target on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Wolfe Research started coverage on shares of Republic Services in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. Finally, UBS Group lowered their price target on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Republic Services currently has an average rating of "Hold" and an average price target of $245.15.

About Republic Services

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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