Impax Asset Management Group plc Has $280 Million Stake in Republic Services, Inc. (NYSE:RSG)

Impax Asset Management Group plc lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 22.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,440,793 shares of the business services provider's stock after selling 411,842 shares during the period. Impax Asset Management Group plc owned about 0.46% of Republic Services worth $280,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in Republic Services in the first quarter valued at about $29,000. EntryPoint Capital LLC acquired a new stake in Republic Services in the first quarter valued at approximately $29,000. Bogart Wealth LLC bought a new stake in Republic Services in the fourth quarter worth approximately $30,000. Jones Financial Companies Lllp raised its holdings in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider's stock valued at $36,000 after purchasing an additional 211 shares in the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services in the 2nd quarter valued at $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE:RSG traded down $2.61 during mid-day trading on Friday, hitting $202.82. The company's stock had a trading volume of 1,032,382 shares, compared to its average volume of 1,174,679. The company has a market capitalization of $63.87 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 3.34 and a beta of 0.70. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $208.69. The stock has a fifty day moving average of $200.65 and a 200-day moving average of $192.34.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. As a group, equities analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is an increase from Republic Services's previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services's dividend payout ratio (DPR) is currently 40.70%.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company's stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent research reports. Royal Bank of Canada raised their target price on Republic Services from $201.00 to $211.00 and gave the company a "sector perform" rating in a report on Thursday, July 25th. Truist Financial upgraded Republic Services from a "hold" rating to a "buy" rating and boosted their target price for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. StockNews.com downgraded Republic Services from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Republic Services currently has an average rating of "Hold" and an average target price of $211.00.

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.