King Luther Capital Management Corp Acquires 3,380 Shares of Republic Services, Inc. (NYSE:RSG)

King Luther Capital Management Corp increased its holdings in Republic Services, Inc. (NYSE:RSG) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,625 shares of the business services provider’s stock after acquiring an additional 3,380 shares during the quarter. King Luther Capital Management Corp’s holdings in Republic Services were worth $10,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of RSG. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after purchasing an additional 4,827 shares in the last quarter. TCW Group Inc. boosted its holdings in Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after acquiring an additional 13,138 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Republic Services in the fourth quarter worth $4,430,000. Hickory Point Bank & Trust bought a new position in shares of Republic Services during the fourth quarter valued at $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Republic Services in the 3rd quarter worth about $6,102,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.6 %

Shares of RSG stock opened at $231.92 on Wednesday. The company has a 50 day simple moving average of $220.16 and a two-hundred day simple moving average of $211.24. The stock has a market cap of $72.43 billion, a P/E ratio of 35.74, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period last year, the firm earned $1.41 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

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

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RSG. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Jefferies Financial Group boosted their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley lifted their price objective on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

About Republic Services

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.