SEB Asset Management AB Makes New Investment in Republic Services, Inc. $RSG

SEB Asset Management AB bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,701 shares of the business services provider’s stock, valued at approximately $10,228,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider’s stock valued at $94,000 after buying an additional 45 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Republic Services by 0.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider’s stock worth $2,216,000 after acquiring an additional 48 shares during the period. Williams Jones Wealth Management LLC. grew its holdings in Republic Services by 2.6% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider’s stock worth $408,000 after acquiring an additional 49 shares in the last quarter. ICONIQ Capital LLC increased its position in Republic Services by 3.3% during the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 50 shares during the period. Finally, Composition Wealth LLC raised its holdings in shares of Republic Services by 1.4% in the 4th quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.7%

Republic Services stock opened at $220.83 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $67.94 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The stock has a 50-day moving average of $211.40 and a two-hundred day moving average of $214.74. Republic Services, Inc. has a one year low of $196.41 and a one year high of $246.25.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services’s payout ratio is currently 35.87%.

Analyst Ratings Changes

RSG has been the topic of a number of recent research reports. Barclays increased their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Finally, Citigroup upped their price objective on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.89.

Insider Buying and Selling

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 987,150 shares of company stock worth $202,366,682 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.