Republic Services, Inc. (NYSE:RSG) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Republic Services, Inc. (NYSE:RSG) by 38.8% in the 4th quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock valued at $3,740,083,000 after acquiring an additional 144,719 shares during the period. Wellington Management Group LLP increased its stake in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the period. Geode Capital Management LLC raised its holdings in shares of Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Republic Services by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after acquiring an additional 25,350 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of recent research reports. UBS Group increased their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Stock Performance

Shares of RSG stock opened at $237.79 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market cap of $74.26 billion, a PE ratio of 36.64, a P/E/G ratio of 3.64 and a beta of 0.73. The stock has a fifty day moving average price of $226.67 and a 200 day moving average price of $213.33. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $240.95.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion during 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 period in the previous year, the firm posted $1.41 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend 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.