Handelsbanken Fonder AB Reduces Stock Holdings in Republic Services, Inc. $RSG

Handelsbanken Fonder AB cut its holdings in Republic Services, Inc. (NYSE:RSG) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,589 shares of the business services provider’s stock after selling 3,048 shares during the quarter. Handelsbanken Fonder AB’s holdings in Republic Services were worth $30,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Republic Services in the 2nd quarter worth approximately $216,000. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in shares of Republic Services during the second quarter worth $402,000. Saturna Capital Corp grew its holdings in shares of Republic Services by 1.1% during the second quarter. Saturna Capital Corp now owns 7,315 shares of the business services provider’s stock valued at $1,804,000 after buying an additional 80 shares during the last quarter. Empirical Finance LLC increased its position in shares of Republic Services by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock valued at $1,783,000 after acquiring an additional 47 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in Republic Services by 1.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,124 shares of the business services provider’s stock worth $3,698,000 after acquiring an additional 147 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RSG shares. Citigroup cut their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Scotiabank reduced their price target on shares of Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Barclays started coverage on shares of Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective on the stock. Jefferies Financial Group set a $248.00 target price on shares of Republic Services and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Stifel Nicolaus decreased their target price on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $219.21 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The firm has a market capitalization of $67.86 billion, a PE ratio of 32.43, a P/E/G ratio of 3.40 and a beta of 0.57. The business’s 50 day moving average price is $218.89 and its 200-day moving average price is $233.99.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.20%.

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.