ING Groep NV Cuts Stock Position in Republic Services, Inc. $RSG

ING Groep NV cut its holdings in Republic Services, Inc. (NYSE:RSG) by 34.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new position in shares of Republic Services in the third quarter valued at $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services in the fourth quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in shares of Republic Services in the third quarter valued at $29,000. Sound Income Strategies LLC purchased a new position in Republic Services during the fourth quarter worth $32,000. Finally, JPL Wealth Management LLC purchased a new position in Republic Services during the third quarter worth $50,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RSG shares. Wells Fargo & Company lifted their price objective on shares of Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Robert W. Baird dropped their price objective on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Finally, Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.26.

Republic Services Price Performance

Shares of NYSE RSG opened at $204.78 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $253.38. The business’s 50 day moving average price is $209.57 and its 200 day moving average price is $214.72. The firm has a market cap of $63.00 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.46 and a beta of 0.41.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 35.87%.

Republic Services Profile

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.