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

QRG Capital Management Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 77.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,627 shares of the business services provider’s stock after acquiring an additional 15,503 shares during the period. QRG Capital Management Inc.’s holdings in Republic Services were worth $7,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Republic Services by 2.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares during the last quarter. Hexagon Capital Partners LLC raised 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 during the last quarter. Fidelis Capital Partners LLC raised its stake in 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 worth $310,000 after acquiring an additional 55 shares during the last quarter. Finally, Tower Wealth Partners Inc. raised its stake in shares of Republic Services by 3.5% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider’s stock valued at $330,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of recent research reports. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. TD Cowen lifted their price objective on 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 lifted their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Trading Up 0.8 %

RSG stock opened at $202.10 on Wednesday. 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, Inc. has a 12-month low of $153.13 and a 12-month high of $208.69. The stock has a market cap of $63.29 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 3.04 and a beta of 0.70. The business’s 50-day moving average is $203.21 and its 200 day moving average is $197.03.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.