Nordea Investment Management AB Sells 353,587 Shares of Republic Services, Inc. $RSG

Nordea Investment Management AB decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 13.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,334,935 shares of the business services provider’s stock after selling 353,587 shares during the period. Nordea Investment Management AB’s holdings in Republic Services were worth $537,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Republic Services by 2.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,353 shares of the business services provider’s stock valued at $1,687,000 after acquiring an additional 154 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Republic Services by 2.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 574,728 shares of the business services provider’s stock worth $131,889,000 after purchasing an additional 11,221 shares during the last quarter. First Horizon Corp bought a new position in Republic Services during the 3rd quarter valued at approximately $98,000. MGO One Seven LLC boosted its holdings in Republic Services by 36.3% in the third quarter. MGO One Seven LLC now owns 18,805 shares of the business services provider’s stock worth $4,315,000 after purchasing an additional 5,011 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Republic Services by 0.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 29,012 shares of the business services provider’s stock valued at $6,658,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth bought 478 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Republic Services Stock Down 0.7%

Republic Services stock opened at $210.76 on Tuesday. The company has a market capitalization of $65.24 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 3.47 and a beta of 0.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services, Inc. has a fifty-two week low of $201.42 and a fifty-two week high of $258.75. The firm has a 50 day moving average price of $212.25 and a 200 day moving average price of $224.47.

Republic Services (NYSE:RSG) last posted its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Republic Services’s revenue was up 3.3% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.20%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays assumed coverage on shares of Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. Bank of America reduced their target price on Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a report on Monday, December 22nd. UBS Group set a $220.00 price target on shares of Republic Services in a research note on Monday, January 5th. Stifel Nicolaus lowered their target price on Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, National Bankshares lowered their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.41.

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.