ING Groep NV lowered its stake in Republic Services, Inc. (NYSE:RSG – Free Report) by 34.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,104 shares of the business services provider’s stock after selling 15,231 shares during the quarter. ING Groep NV’s holdings in Republic Services were worth $6,168,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new position in Republic Services during the third quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in Republic Services during the third quarter worth approximately $29,000. Sound Income Strategies LLC acquired a new position in Republic Services during the fourth quarter worth approximately $32,000. Finally, MCF Advisors LLC increased its position in Republic Services by 72.3% during the fourth quarter. MCF Advisors LLC now owns 224 shares of the business services provider’s stock worth $47,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.
Republic Services Stock Down 2.5%
Republic Services stock opened at $204.78 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $253.38. The company has a market cap of $63.00 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.41. The stock’s 50 day moving average price is $209.57 and its 200 day moving average price is $214.72.
Republic Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is 35.87%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on RSG shares. JPMorgan Chase & Co. boosted their target price on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Morgan Stanley dropped their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Royal Bank Of Canada boosted their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. BMO Capital Markets dropped their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup dropped their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.26.
Read Our Latest Stock Report on RSG
Insider Buying and Selling at Republic Services
In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 60,700 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the purchase, the insider directly owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 987,150 shares of company stock valued at $202,366,682 in the last quarter. 0.12% of the stock is owned by insiders.
About Republic Services
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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