ING Groep NV Sells 21,244 Shares of Republic Services, Inc. (NYSE:RSG)

ING Groep NV lessened its position in Republic Services, Inc. (NYSE:RSG) by 26.7% in the third quarter, HoldingsChannel reports. The fund owned 58,302 shares of the business services provider’s stock after selling 21,244 shares during the quarter. ING Groep NV’s holdings in Republic Services were worth $11,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its position in shares of Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. M&G Plc purchased a new stake in shares of Republic Services in the 1st quarter worth about $130,892,000. International Assets Investment Management LLC grew its position in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after buying an additional 538,010 shares during the period. Earnest Partners LLC grew its stake in shares of Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after buying an additional 182,645 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Republic Services by 1,946.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after acquiring an additional 129,619 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 2.4 %

NYSE:RSG opened at $209.46 on Friday. The stock has a fifty day simple moving average of $203.66 and a 200-day simple moving average of $197.79. The company has a market capitalization of $65.59 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $156.83 and a 52-week high of $216.18. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RSG shares. Stifel Nicolaus increased their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Raymond James lowered their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Profile

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.