Republic Services, Inc. (NYSE:RSG) Stake Lifted by KBC Group NV

KBC Group NV boosted its position in Republic Services, Inc. (NYSE:RSG) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,490 shares of the business services provider’s stock after purchasing an additional 1,660 shares during the period. KBC Group NV’s holdings in Republic Services were worth $18,174,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its stake in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Republic Services during the 1st quarter valued at about $29,000. Webster Bank N. A. acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services in the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Securities LLC bought a new stake in Republic Services during the third quarter worth approximately $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research reports. CIBC upped their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird upped their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. TD Cowen lifted their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Stock Performance

RSG stock opened at $208.03 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $203.74 and its two-hundred day moving average price is $197.87. Republic Services, Inc. has a 1-year low of $157.46 and a 1-year high of $216.18. The firm has a market cap of $65.15 billion, a PE ratio of 33.28, a P/E/G ratio of 3.28 and a beta of 0.70.

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

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

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.