Tredje AP fonden Raises Stake in Republic Services, Inc. (NYSE:RSG)

Tredje AP fonden lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 14.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,500 shares of the business services provider’s stock after acquiring an additional 6,000 shares during the quarter. Tredje AP fonden’s holdings in Republic Services were worth $9,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in Republic Services in the 1st quarter worth approximately $29,000. EntryPoint Capital LLC bought a new stake in Republic Services during the 1st quarter valued at $29,000. Jones Financial Companies Lllp boosted its position 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 valued at $36,000 after buying an additional 211 shares during the period. Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services in the second quarter valued at about $45,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Republic Services during the fourth quarter valued at about $50,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 1.3 %

Shares of NYSE:RSG opened at $199.18 on Thursday. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $208.69. The stock has a market capitalization of $62.56 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 3.29 and a beta of 0.70. The stock has a fifty day simple moving average of $202.21 and a two-hundred day simple moving average of $193.56. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. On average, research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s payout ratio is presently 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. CIBC lifted their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $211.00.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.