Parnassus Investments LLC Sells 20,743 Shares of Republic Services, Inc. (NYSE:RSG)

Parnassus Investments LLC decreased its stake in Republic Services, Inc. (NYSE:RSG) by 4.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 467,557 shares of the business services provider’s stock after selling 20,743 shares during the period. Parnassus Investments LLC’s holdings in Republic Services were worth $93,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors lifted its position in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares during the last quarter. Earnest Partners LLC raised its position in Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after buying an additional 129,619 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Republic Services by 44.3% during the first quarter. Canada Pension Plan Investment Board now owns 396,681 shares of the business services provider’s stock valued at $75,941,000 after buying an additional 121,781 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Up 0.5 %

Shares of NYSE RSG opened at $209.08 on Tuesday. Republic Services, Inc. has a 1-year low of $157.91 and a 1-year high of $216.18. The business has a fifty day moving average price of $203.92 and a 200 day moving average price of $198.26. The stock has a market capitalization of $65.47 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last released 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RSG shares. Truist Financial raised their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Raymond James reduced their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Company 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.