MQS Management LLC Takes $1.35 Million Position in Republic Services, Inc. $RSG

MQS Management LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,382 shares of the business services provider’s stock, valued at approximately $1,353,000. Republic Services makes up 0.8% of MQS Management LLC’s holdings, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth about $26,000. Laurel Wealth Advisors LLC bought a new stake in Republic Services during the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Republic Services in the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Republic Services in the 4th quarter valued at about $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on RSG shares. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Morgan Stanley decreased their target price on Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. BMO Capital Markets decreased their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Robert W. Baird decreased their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Citigroup decreased their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Republic Services presently has a consensus rating of “Hold” and a consensus price target of $245.15.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 987,150 shares of company stock worth $202,366,682. Company insiders own 0.12% of the company’s stock.

Republic Services Stock Up 0.4%

RSG stock opened at $208.86 on Friday. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $64.26 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.42 and a beta of 0.43. The business has a 50 day moving average of $213.03 and a 200 day moving average of $214.83.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 36.15%.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.