QRG Capital Management Inc. Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

QRG Capital Management Inc. boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 77.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,627 shares of the business services provider's stock after acquiring an additional 15,503 shares during the quarter. QRG Capital Management Inc.'s holdings in Republic Services were worth $7,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. RFG Advisory LLC lifted its stake in Republic Services by 0.5% during the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider's stock valued at $2,061,000 after buying an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider's stock valued at $362,000 after buying an additional 53 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider's stock worth $278,000 after acquiring an additional 55 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider's stock valued at $310,000 after purchasing an additional 55 shares during the period. Finally, Tower Wealth Partners Inc. grew its position in Republic Services by 3.5% during the third quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider's stock valued at $330,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm's stock in a transaction on Friday, August 16th. The shares were 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 approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research reports. Stifel Nicolaus upped their target price on Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Morgan Stanley raised their target price on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Raymond James decreased their target price on Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Finally, Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $215.71.

Republic Services Price Performance

RSG traded up $4.94 on Wednesday, reaching $207.08. The stock had a trading volume of 1,017,746 shares, compared to its average volume of 1,125,378. The company has a market capitalization of $64.85 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 3.07 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. The firm has a 50-day moving average of $203.21 and a 200-day moving average of $197.03. Republic Services, Inc. has a fifty-two week low of $154.49 and a fifty-two week high of $208.69.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services's payout ratio is presently 37.12%.

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.