Republic Services, Inc. (NYSE:RSG) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,256 shares of the business services provider’s stock after selling 1,130 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Republic Services were worth $1,198,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. lifted its position in shares of Republic Services by 6.5% during the third quarter. Federated Hermes Inc. now owns 11,488 shares of the business services provider’s stock worth $1,637,000 after purchasing an additional 705 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Republic Services by 15.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,133 shares of the business services provider’s stock worth $1,444,000 after purchasing an additional 1,386 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Republic Services in the 3rd quarter worth about $406,000. Ameriprise Financial Inc. increased its position in shares of Republic Services by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,604,598 shares of the business services provider’s stock worth $228,697,000 after purchasing an additional 4,376 shares during the last quarter. Finally, Earnest Partners LLC grew its position in shares of Republic Services by 5.5% during the 3rd quarter. Earnest Partners LLC now owns 980,617 shares of the business services provider’s stock valued at $139,748,000 after buying an additional 51,020 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a research note on Friday, March 15th. Scotiabank upped their price target on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upped their price target on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada started coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Insider Activity

In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Down 0.0 %

Republic Services stock opened at $193.07 on Wednesday. The company’s 50 day simple moving average is $188.76 and its 200 day simple moving average is $181.54. Republic Services, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $196.76. The firm has a market capitalization of $60.80 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 3.26 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

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.