Principal Financial Group Inc. Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Principal Financial Group Inc. trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 748,055 shares of the business services provider's stock after selling 3,224 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Republic Services worth $150,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RSG. Graypoint LLC lifted its holdings in shares of Republic Services by 6.4% during the third quarter. Graypoint LLC now owns 1,457 shares of the business services provider's stock valued at $293,000 after purchasing an additional 87 shares in the last quarter. Umpqua Bank purchased a new position in Republic Services in the 3rd quarter worth about $352,000. Harvest Portfolios Group Inc. boosted its holdings in shares of Republic Services by 18.5% in the third quarter. Harvest Portfolios Group Inc. now owns 5,388 shares of the business services provider's stock valued at $1,082,000 after purchasing an additional 840 shares during the period. Catalina Capital Group LLC grew its position in shares of Republic Services by 4.1% during the 3rd quarter. Catalina Capital Group LLC now owns 4,484 shares of the business services provider's stock worth $901,000 after buying an additional 176 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in shares of Republic Services by 1.6% in the 3rd quarter. Marks Group Wealth Management Inc now owns 79,314 shares of the business services provider's stock valued at $15,929,000 after purchasing an additional 1,246 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company's stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Republic Services Stock Performance

RSG stock traded up $4.05 during midday trading on Friday, reaching $212.13. 617,998 shares of the company's stock traded hands, compared to its average volume of 1,124,402. Republic Services, Inc. has a 52-week low of $154.92 and a 52-week high of $213.25. The stock's 50-day moving average is $203.21 and its 200 day moving average is $197.10. The stock has a market cap of $66.43 billion, a P/E ratio of 33.48, a PEG ratio of 3.17 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

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

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is presently 37.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a "market perform" rating in a research report on Thursday, July 25th. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They set a "sector perform" rating and a $224.00 target price on the stock. Finally, Raymond James reduced their target price on Republic Services from $219.00 to $214.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.

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.