QRG Capital Management Inc. Has $12.70 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

QRG Capital Management Inc. raised its holdings in Republic Services, Inc. (NYSE:RSG) by 77.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,107 shares of the business services provider’s stock after buying an additional 27,480 shares during the quarter. QRG Capital Management Inc.’s holdings in Republic Services were worth $12,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI grew its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $32,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Trading Up 0.5 %

Shares of RSG opened at $232.64 on Friday. The company has a market cap of $72.65 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 3.64 and a beta of 0.74. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $234.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a fifty day moving average price of $215.06 and a two-hundred day moving average price of $209.41.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the previous year, the company posted $1.41 earnings per share. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. Republic Services’s payout ratio is currently 35.75%.

Analysts Set New Price Targets

RSG has been the topic of several recent research reports. Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.41.

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.