Forsta AP Fonden Sells 1,400 Shares of Republic Services, Inc. (NYSE:RSG)

Forsta AP Fonden cut its stake in Republic Services, Inc. (NYSE:RSG) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,600 shares of the business services provider’s stock after selling 1,400 shares during the quarter. Forsta AP Fonden’s holdings in Republic Services were worth $8,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. YHB Investment Advisors Inc. bought a new position in Republic Services in the 1st quarter worth about $29,000. EntryPoint Capital LLC purchased a new position in Republic Services during the first quarter valued at approximately $29,000. Jones Financial Companies Lllp increased its holdings in Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares during the period. Indiana Trust & Investment Management CO bought a new position in Republic Services in the 2nd quarter valued at $45,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Republic Services during the 4th quarter valued at $50,000. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSG. BMO Capital Markets lifted their price target on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. CIBC upped their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, Raymond James cut their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of “Hold” and an average target price of $211.00.

Republic Services Stock Up 0.3 %

NYSE RSG opened at $205.79 on Friday. The business’s 50-day moving average is $201.84 and its 200 day moving average is $193.12. The stock has a market capitalization of $64.63 billion, a PE ratio of 36.10, a PEG ratio of 3.29 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Sell-side analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.13%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 37.54%.

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.