Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in Republic Services, Inc. (RSG)

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Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,093 shares of the business services provider’s stock after selling 1,737 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Republic Services were worth $2,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RSG. HBK Investments L P bought a new stake in shares of Republic Services in the fourth quarter valued at approximately $223,000. Elkfork Partners LLC bought a new stake in Republic Services during the 4th quarter worth approximately $2,319,000. Cornerstone Capital Management Holdings LLC. increased its holdings in Republic Services by 7.4% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 42,731 shares of the business services provider’s stock worth $2,888,000 after acquiring an additional 2,926 shares during the period. Millennium Management LLC increased its holdings in Republic Services by 55.8% during the 4th quarter. Millennium Management LLC now owns 292,882 shares of the business services provider’s stock worth $19,802,000 after acquiring an additional 104,905 shares during the period. Finally, BB&T Securities LLC increased its holdings in Republic Services by 7.2% during the 4th quarter. BB&T Securities LLC now owns 31,632 shares of the business services provider’s stock worth $2,138,000 after acquiring an additional 2,119 shares during the period. 60.17% of the stock is currently owned by institutional investors.

Republic Services opened at $68.25 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $22.48 billion, a P/E ratio of 28.09, a PEG ratio of 2.01 and a beta of 0.55. Republic Services, Inc. has a 1-year low of $60.26 and a 1-year high of $70.55.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, May 2nd. The business services provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Republic Services had a net margin of 13.18% and a return on equity of 11.29%. Republic Services’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. research analysts expect that Republic Services, Inc. will post 3.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Monday, July 2nd were paid a $0.345 dividend. The ex-dividend date of this dividend was Friday, June 29th. This represents a $1.38 dividend on an annualized basis and a yield of 2.02%. Republic Services’s dividend payout ratio is presently 56.79%.

In other Republic Services news, EVP Jeffrey A. Hughes sold 16,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $68.00, for a total value of $1,101,600.00. Following the completion of the transaction, the executive vice president now owns 16,200 shares of the company’s stock, valued at approximately $1,101,600. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Charles F. Serianni sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $70.00, for a total transaction of $665,000.00. Following the completion of the transaction, the chief financial officer now directly owns 46,143 shares of the company’s stock, valued at approximately $3,230,010. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

RSG has been the topic of a number of analyst reports. UBS Group lowered shares of Republic Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 11th. Raymond James lowered shares of Republic Services from a “strong-buy” rating to a “market perform” rating and set a $72.00 target price on the stock. in a report on Wednesday, April 11th. Zacks Investment Research lowered shares of Republic Services from a “hold” rating to a “sell” rating in a report on Monday, April 16th. Oppenheimer reaffirmed a “hold” rating on shares of Republic Services in a report on Thursday, May 3rd. Finally, Argus raised shares of Republic Services from a “hold” rating to a “buy” rating in a report on Thursday, May 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Republic Services currently has a consensus rating of “Hold” and a consensus price target of $72.14.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.

See Also: Earnings Per Share (EPS)

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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