QRG Capital Management Inc. Sells 6,359 Shares of Republic Services, Inc. $RSG

Key Points

• QRG Capital Management cut its Republic Services position by 31.7% in the second quarter, selling 6,359 shares and retaining 13,712 shares valued at approximately $2.92 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $245.26; Republic Services also exceeded quarterly EPS and revenue estimates.
• Republic Services raised its quarterly dividend to $0.67 per share, equivalent to a $2.68 annualized payout and a 1.3% yield, while insiders purchased more than $1.38 billion of stock over the past 90 days.

QRG Capital Management Inc. reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 31.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,712 shares of the business services provider's stock after selling 6,359 shares during the quarter. QRG Capital Management Inc.'s holdings in Republic Services were worth $2,922,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Republic Services in the second quarter valued at about $3,798,092,000. State Street Corp grew its holdings in Republic Services by 1.6% during the second quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock worth $2,120,893,000 after acquiring an additional 160,051 shares during the period. Capital World Investors lifted its stake in shares of Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Bank of America Corp DE purchased a new stake in Republic Services during the second quarter worth about $682,573,000. Finally, Norges Bank purchased a new stake in Republic Services during the fourth quarter worth about $617,165,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley set a $232.00 target price on shares of Republic Services in a report on Friday, August 7th. Wolfe Research began coverage on Republic Services in a report on Tuesday, September 15th. They issued a "peer perform" rating on the stock. UBS Group boosted their price objective on shares of Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Citigroup raised their target price on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Barclays lifted their target price on shares of Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.26.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the acquisition, the insider owned 116,166,330 shares of the company's stock, valued at $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 6,254,462 shares of company stock valued at $1,380,321,958. 0.12% of the stock is currently owned by company insiders.

Republic Services Trading Down 0.3%

NYSE:RSG opened at $212.15 on Friday. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.40. Republic Services, Inc. has a one year low of $196.41 and a one year high of $233.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. The business's 50-day simple moving average is $217.63 and its 200 day simple moving average is $214.53.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.04. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.Republic Services's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.6250. This represents a $2.68 annualized dividend and a yield of 1.3%. Republic Services's payout ratio is currently 35.41%.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, offering scheduled and on-demand waste pickup, roll-off containers, transfer-station services and landfill disposal.

Its recycling and environmental services include the collection and processing of recyclable materials, organics management, waste reduction programs and related sustainability solutions.

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