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

MQS Management LLC bought a new position in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 6,382 shares of the business services provider’s stock, valued at approximately $1,353,000. Republic Services accounts for about 0.8% of MQS Management LLC’s investment portfolio, making the stock its 5th biggest holding.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Republic Services by 2.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,948 shares of the business services provider’s stock valued at $1,261,000 after acquiring an additional 123 shares during the period. Cumberland Partners Ltd raised its holdings in Republic Services by 18.9% during the fourth quarter. Cumberland Partners Ltd now owns 11,650 shares of the business services provider’s stock valued at $2,469,000 after acquiring an additional 1,850 shares during the period. Advisory Alpha LLC increased its holdings in shares of Republic Services by 27.9% in the fourth quarter. Advisory Alpha LLC now owns 2,240 shares of the business services provider’s stock worth $475,000 after purchasing an additional 488 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of Republic Services by 14.7% in the fourth quarter. Ignite Planners LLC now owns 1,918 shares of the business services provider’s stock worth $413,000 after purchasing an additional 246 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Republic Services in the fourth quarter worth about $348,000. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the transaction, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 987,150 shares of company stock valued at $202,366,682 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RSG shares. Citigroup reduced their target price on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Wells Fargo & Company lifted their target price on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Oppenheimer reduced their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Barclays lifted their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, BMO Capital Markets reduced their target price on Republic Services from $251.00 to $248.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Republic Services presently has an average rating of “Hold” and an average target price of $245.15.

Republic Services Trading Up 0.4%

RSG opened at $208.86 on Friday. The firm has a market cap of $64.26 billion, a P/E ratio of 29.97, a P/E/G ratio of 3.42 and a beta of 0.43. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average of $213.03 and a 200 day moving average of $214.83.

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

Republic Services Announces Dividend

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

Republic Services Company 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.