King Luther Capital Management Corp Boosts Holdings in Republic Services, Inc. $RSG

King Luther Capital Management Corp grew its holdings in Republic Services, Inc. (NYSE:RSG) by 39.1% in the 4th quarter, HoldingsChannel reports. The firm owned 75,020 shares of the business services provider’s stock after purchasing an additional 21,095 shares during the quarter. King Luther Capital Management Corp’s holdings in Republic Services were worth $15,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in Republic Services in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Republic Services by 121.8% in the third 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 in the last quarter. Ameriflex Group Inc. acquired a new stake in Republic Services in the third quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC acquired a new stake in Republic Services in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.7%

RSG stock opened at $205.68 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $258.75. The company’s 50 day moving average is $211.97 and its two-hundred day moving average is $214.92. The stock has a market cap of $63.28 billion, a P/E ratio of 29.51, a PEG ratio of 3.41 and a beta of 0.43.

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

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RSG shares. Citigroup reduced their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wolfe Research started coverage on shares of Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, Barclays raised their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Hold” and a consensus price target of $245.15.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the completion of the acquisition, the insider owned 110,803,982 shares in the company, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 987,150 shares of company stock worth $202,366,682 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

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.