QRG Capital Management Inc. Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

QRG Capital Management Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 77.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,627 shares of the business services provider’s stock after buying 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 reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. TD Asset Management Inc raised its position in Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares during the period. Capital World Investors raised 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 valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. M&G Plc purchased a new stake in Republic Services in the first quarter valued at approximately $130,892,000. International Assets Investment Management LLC increased its position in shares of Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after acquiring an additional 538,010 shares during the period. Finally, Earnest Partners LLC increased its position in shares of Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after acquiring an additional 182,645 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services 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 owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Republic Services Stock Up 0.8 %

Shares of NYSE RSG opened at $202.10 on Wednesday. Republic Services, Inc. has a 1 year low of $153.13 and a 1 year high of $208.69. The firm’s 50 day moving average price is $203.21 and its 200 day moving average price is $197.03. The firm has a market cap of $63.29 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.12 billion. During the same quarter last year, the business earned $1.54 earnings per share. Republic Services’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company 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 yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is currently 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.