King Luther Capital Management Corp Grows Position in Republic Services, Inc. $RSG

Key Points

• King Luther Capital Management boosted its stake in Republic Services by 39.1% in the fourth quarter, owning 75,020 shares valued at about $15.9 million.
• Republic Services shares were down 0.7% in Thursday trading, opening at $205.68, while the stock still trades near a $63.28 billion market cap.
• The company beat quarterly earnings expectations, reporting $1.70 EPS on $4.11 billion in revenue, and it also announced a quarterly dividend of $0.625 per share.

King Luther Capital Management Corp raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,020 shares of the business services provider's stock after buying 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 large investors have also modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services during the third quarter worth $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services during the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after buying an additional 67 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Republic Services during the third quarter worth $29,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.7%

Shares of RSG stock opened at $205.68 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $63.28 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.41 and a beta of 0.43. The company has a 50-day moving average of $211.97 and a two-hundred day moving average of $214.92. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share 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 net margin of 13.00% and a return on equity of 18.57%. Republic Services's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. On average, analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The business 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 of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio (DPR) is 35.87%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RSG. Wolfe Research began coverage on shares of Republic Services in a report on Friday, March 13th. They issued a "peer perform" rating for the company. Robert W. Baird dropped their price objective on shares of Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, April 16th. Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating for the company in a report on Wednesday, February 18th. BMO Capital Markets dropped their price objective on shares of Republic Services from $251.00 to $248.00 and set an "outperform" rating for the company in a report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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. bought 366,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 987,150 shares of company stock worth $202,366,682 over the last ninety days. Company insiders own 0.12% of the company's stock.

About Republic Services

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.

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