Skandinaviska Enskilda Banken AB publ decreased its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,554 shares of the business services provider’s stock after selling 3,040 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Republic Services were worth $8,202,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in RSG. Schechter Investment Advisors LLC lifted its holdings in shares of Republic Services by 19.4% in the 3rd quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock worth $398,000 after purchasing an additional 453 shares during the last quarter. Ossiam increased its position in shares of Republic Services by 41.8% during the 2nd quarter. Ossiam now owns 15,837 shares of the business services provider’s stock valued at $2,426,000 after purchasing an additional 4,666 shares during the period. Savant Capital LLC increased its position in shares of Republic Services by 4.3% during the 2nd quarter. Savant Capital LLC now owns 26,733 shares of the business services provider’s stock valued at $4,095,000 after purchasing an additional 1,104 shares during the period. Shelton Capital Management acquired a new position in shares of Republic Services during the 2nd quarter valued at $204,000. Finally, CWM LLC increased its position in shares of Republic Services by 11.1% during the 2nd quarter. CWM LLC now owns 7,767 shares of the business services provider’s stock valued at $1,190,000 after purchasing an additional 777 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.
Wall Street Analysts Forecast Growth
RSG has been the topic of several research analyst reports. UBS Group upgraded Republic Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $155.00 to $175.00 in a research report on Monday, October 23rd. Stifel Nicolaus lifted their price target on Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Republic Services in a research report on Thursday, February 1st. Wells Fargo & Company lifted their target price on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Oppenheimer lifted their target price on Republic Services from $172.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $169.33.
Republic Services Stock Performance
Shares of RSG stock opened at $173.49 on Monday. Republic Services, Inc. has a 1-year low of $124.27 and a 1-year high of $175.35. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.89 and a beta of 0.67. The stock’s fifty day simple moving average is $166.41 and its 200-day simple moving average is $155.52.
Republic Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.535 per share. The ex-dividend date is Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.23%. Republic Services’s dividend payout ratio is 41.39%.
Republic Services declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
About Republic Services
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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