ING Groep NV Purchases 35,595 Shares of Republic Services, Inc. (NYSE:RSG)

ING Groep NV grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 61.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,897 shares of the business services provider’s stock after buying an additional 35,595 shares during the quarter. ING Groep NV’s holdings in Republic Services were worth $18,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Creative Planning raised its holdings in shares of Republic Services by 8.1% in the 3rd quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock worth $6,316,000 after purchasing an additional 2,360 shares during the period. Whittier Trust Co. grew its stake in Republic Services by 14.5% in the 3rd quarter. Whittier Trust Co. now owns 1,162 shares of the business services provider’s stock valued at $233,000 after buying an additional 147 shares in the last quarter. Eastern Bank purchased a new position in Republic Services in the 3rd quarter valued at approximately $673,000. Waldron Private Wealth LLC grew its stake in Republic Services by 6.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 1,549 shares of the business services provider’s stock valued at $311,000 after buying an additional 92 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in Republic Services by 17.7% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,190 shares of the business services provider’s stock valued at $440,000 after buying an additional 330 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Morgan Stanley boosted their price target on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Oppenheimer boosted their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial restated a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.75.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $230.73 on Friday. The company has a market cap of $72.05 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The company has a 50-day moving average price of $212.44 and a 200-day moving average price of $208.27. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12 month low of $179.62 and a 12 month high of $232.52.

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

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is currently 35.75%.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Republic Services Company 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.