IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Holdings in Republic Services, Inc. (NYSE:RSG)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 38.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,834 shares of the business services provider’s stock after selling 7,512 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Republic Services were worth $2,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of Republic Services in the third quarter worth approximately $25,000. Arcadia Investment Management Corp MI lifted its stake in shares of Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd purchased a new stake in Republic Services during the 4th quarter valued at about $32,000. Truvestments Capital LLC acquired a new stake in Republic Services in the 3rd quarter valued at about $34,000. Finally, Generali Asset Management SPA SGR purchased a new position in Republic Services in the 4th quarter worth approximately $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RSG. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Stifel Nicolaus boosted their target price on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Truist Financial restated a “buy” rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $211.00 to $238.00 in a report on Friday, December 6th. Finally, The Goldman Sachs Group raised their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Five equities research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Price Performance

Republic Services stock opened at $237.79 on Thursday. The company’s 50 day moving average is $226.67 and its two-hundred day moving average is $213.33. The firm has a market cap of $74.26 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $240.95.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the prior year, the business earned $1.41 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

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.