KBC Group NV Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

KBC Group NV increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 133.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,259 shares of the business services provider’s stock after purchasing an additional 120,769 shares during the quarter. KBC Group NV owned approximately 0.07% of Republic Services worth $42,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Republic Services during the fourth quarter worth $30,676,000. Blue Trust Inc. boosted its position in Republic Services by 19.1% during the fourth quarter. Blue Trust Inc. now owns 5,575 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 896 shares during the last quarter. PFG Investments LLC grew its stake in Republic Services by 4.2% during the 4th quarter. PFG Investments LLC now owns 3,730 shares of the business services provider’s stock valued at $750,000 after acquiring an additional 152 shares in the last quarter. Strategic Investment Advisors MI acquired a new stake in Republic Services in the 4th quarter valued at about $311,000. Finally, Running Oak Capital LLC boosted its holdings in shares of Republic Services by 7.5% during the 4th quarter. Running Oak Capital LLC now owns 68,479 shares of the business services provider’s stock worth $13,763,000 after purchasing an additional 4,762 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RSG shares. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Scotiabank began coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Morgan Stanley boosted their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $222.24.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $215.47 on Tuesday. The company has a market cap of $67.47 billion, a P/E ratio of 34.48, a P/E/G ratio of 3.07 and a beta of 0.73. Republic Services, Inc. has a 1-year low of $169.83 and a 1-year high of $220.58. 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 stock has a 50-day moving average of $209.45 and a two-hundred day moving average of $205.22.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current year.

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.