KLP Kapitalforvaltning AS Trims Stock Position in Republic Services, Inc. (NYSE:RSG)

KLP Kapitalforvaltning AS lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,834 shares of the business services provider's stock after selling 35,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Republic Services were worth $24,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RSG. Golden State Wealth Management LLC increased its position in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares during the period. Key Financial Inc increased its position in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares during the period. New Age Alpha Advisors LLC increased its position in shares of Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after acquiring an additional 73 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Republic Services during the fourth quarter worth approximately $44,000. Finally, Proathlete Wealth Management LLC purchased a new position in Republic Services during the first quarter valued at approximately $76,000. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded down $0.00 during trading hours on Friday, hitting $245.11. 569,202 shares of the company's stock traded hands, compared to its average volume of 1,277,606. The firm's 50-day moving average is $247.41 and its 200-day moving average is $237.09. Republic Services, Inc. has a 52-week low of $188.82 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $76.60 billion, a PE ratio of 36.97, a PEG ratio of 3.69 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company's revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RSG shares. Robert W. Baird lifted their price objective on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Truist Financial lifted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Melius began coverage on shares of Republic Services in a report on Monday, June 9th. They issued a "hold" rating on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $258.16.

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.