Nordea Investment Management AB Acquires 509,116 Shares of Republic Services, Inc. (NYSE:RSG)

Nordea Investment Management AB lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 19.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,129,322 shares of the business services provider’s stock after buying an additional 509,116 shares during the period. Nordea Investment Management AB’s holdings in Republic Services were worth $626,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RSG. Simmons Bank boosted its position in Republic Services by 2.8% during the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after buying an additional 52 shares during the period. Venturi Wealth Management LLC raised its holdings in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after acquiring an additional 54 shares during the period. Fidelis Capital Partners LLC lifted its position in Republic Services by 3.8% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after acquiring an additional 55 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Republic Services by 11.6% during the third quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $201.04 on Monday. The firm’s fifty day moving average is $208.38 and its two-hundred day moving average is $203.62. The firm has a market cap of $62.96 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 3.30 and a beta of 0.71. Republic Services, Inc. has a one year low of $162.27 and a one year high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on RSG shares. Truist Financial increased their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. William Blair assumed coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. CIBC increased their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley increased their price objective on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $220.06.

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.