BI Asset Management Fondsmaeglerselskab A S Has $19.34 Million Stake in Republic Services, Inc. $RSG

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 192.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,883 shares of the business services provider’s stock after purchasing an additional 52,539 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Republic Services were worth $19,344,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Republic Services by 0.4% during the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider’s stock worth $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider’s stock worth $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC raised its stake in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock worth $279,000 after purchasing an additional 46 shares in the last quarter. Hemington Wealth Management raised its stake in Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock worth $195,000 after purchasing an additional 47 shares in the last quarter. Finally, FORA Capital LLC increased its holdings in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock valued at $1,541,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $232.35 on Tuesday. The stock’s fifty day moving average is $241.28 and its 200 day moving average is $240.26. The firm has a market capitalization of $72.55 billion, a PE ratio of 34.37, a PEG ratio of 3.63 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services’s dividend payout ratio is presently 34.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Melius Research upgraded shares of Republic Services to a “hold” rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Robert W. Baird boosted their target price on shares of Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Finally, UBS Group set a $260.00 price target on shares of Republic Services and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.17.

About Republic Services

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.