Republic Services, Inc. $RSG Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 21.0% during the second quarter, HoldingsChannel.com reports. The fund owned 77,962 shares of the business services provider’s stock after acquiring an additional 13,529 shares during the quarter. QRG Capital Management Inc.’s holdings in Republic Services were worth $19,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Vanguard Group Inc. increased its position in shares of Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after buying an additional 170,548 shares in the last quarter. Wellington Management Group LLP grew its stake in Republic Services by 0.7% in the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after acquiring an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after purchasing an additional 224,867 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on RSG. UBS Group set a $260.00 target price on Republic Services and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Melius Research upgraded Republic Services to a “hold” rating and set a $281.00 price objective on the stock in a research report on Monday, June 9th. Oppenheimer lifted their price objective on Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Citigroup reduced their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Finally, Stifel Nicolaus initiated coverage on shares of Republic Services in a report on Monday, September 29th. They set a “buy” rating and a $257.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.58.

Republic Services Stock Up 0.7%

Shares of NYSE:RSG opened at $224.14 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a market cap of $69.98 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 3.50 and a beta of 0.59. The stock’s 50-day moving average price is $231.45 and its two-hundred day moving average price is $240.24. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company posted $1.61 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio is presently 36.98%.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.