Handelsbanken Fonder AB Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

Handelsbanken Fonder AB lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,689 shares of the business services provider’s stock after acquiring an additional 4,452 shares during the period. Handelsbanken Fonder AB’s holdings in Republic Services were worth $27,051,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC grew its stake in shares of Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Republic Services by 2.9% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after purchasing an additional 54 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Republic Services by 4.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after purchasing an additional 55 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Republic Services by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after purchasing an additional 57 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of recent research reports. Scotiabank began coverage on shares of Republic Services in a research report on Friday. They set a “sector perform” rating and a $224.00 price target on the stock. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $192.00 to $220.00 in a report on Thursday, July 11th. CIBC increased their price target on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.65.

Republic Services Stock Down 0.6 %

NYSE RSG traded down $1.23 on Friday, hitting $200.67. 957,963 shares of the stock traded hands, compared to its average volume of 975,026. The company has a market capitalization of $63.02 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. The stock has a 50-day moving average of $202.55 and a 200 day moving average of $194.91. 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, Inc. has a twelve month low of $141.80 and a twelve month high of $208.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping 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. As a group, analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. Republic Services’s dividend payout ratio is 40.70%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.