KLP Kapitalforvaltning AS Takes $27.25 Million Position in Republic Services, Inc. (NYSE:RSG)

KLP Kapitalforvaltning AS bought a new position in shares of Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 135,434 shares of the business services provider’s stock, valued at approximately $27,247,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC lifted its stake in Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after buying an additional 25,350 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.8 %

Republic Services stock opened at $232.95 on Friday. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average price of $224.90 and a 200-day moving average price of $212.66. The company has a market capitalization of $72.75 billion, a P/E ratio of 35.89, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the business posted $1.41 EPS. As a group, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Analyst Ratings Changes

A number of research firms have commented on RSG. William Blair restated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. UBS Group raised their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Argus set a $260.00 price objective on Republic Services in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group upped their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.