ING Groep NV Lowers Position in Republic Services, Inc. (NYSE:RSG)

ING Groep NV lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,302 shares of the business services provider’s stock after selling 21,244 shares during the quarter. ING Groep NV’s holdings in Republic Services were worth $11,709,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RSG. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Republic Services during the first quarter valued at about $29,000. Webster Bank N. A. purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services during the second quarter worth $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Republic Services during the third quarter worth about $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 2.4 %

Shares of Republic Services stock opened at $209.46 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50-day moving average of $203.66 and a two-hundred day moving average of $197.79. Republic Services, Inc. has a 1 year low of $156.83 and a 1 year high of $216.18. The company has a market capitalization of $65.59 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 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 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSG. Raymond James decreased their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. BMO Capital Markets upped their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Oppenheimer increased their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

About Republic Services

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.