Qsemble Capital Management LP Invests $7.64 Million in Republic Services, Inc. $RSG

Key Points

• Qsemble Capital Management initiated a new position in Republic Services, buying 36,026 shares worth about $7.64 million in the fourth quarter.
• Republic Services reported better-than-expected quarterly results, with EPS of $1.70 versus estimates of $1.64 and revenue of $4.11 billion slightly above expectations.
• The company also announced a quarterly dividend of $0.625 per share, payable July 15, while analysts currently have a Hold consensus rating and an average price target of $245.15.

Qsemble Capital Management LP bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,026 shares of the business services provider's stock, valued at approximately $7,635,000.

Several other hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in Republic Services by 7,683.2% during the third quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider's stock valued at $169,768,000 after purchasing an additional 730,287 shares in the last quarter. National Pension Service raised its stake in Republic Services by 1.2% during the third quarter. National Pension Service now owns 758,644 shares of the business services provider's stock valued at $174,094,000 after purchasing an additional 9,041 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Republic Services during the third quarter valued at $3,524,000. SteelPeak Wealth LLC raised its stake in Republic Services by 130.0% during the fourth quarter. SteelPeak Wealth LLC now owns 12,386 shares of the business services provider's stock valued at $2,625,000 after purchasing an additional 7,001 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Republic Services by 68.8% during the third quarter. Citigroup Inc. now owns 352,462 shares of the business services provider's stock valued at $80,883,000 after purchasing an additional 143,704 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 499,150 shares of company stock valued at $100,527,357 in the last quarter. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

RSG has been the topic of a number of analyst reports. Scotiabank cut their price objective on shares of Republic Services from $246.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their price objective on shares of Republic Services from $238.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Wolfe Research initiated coverage on shares of Republic Services in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. BMO Capital Markets cut their price objective on shares of Republic Services from $251.00 to $248.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 18th. Finally, Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $245.15.

Republic Services Trading Down 0.3%

NYSE RSG opened at $208.12 on Friday. The company's 50-day moving average price is $214.67 and its 200-day moving average price is $214.89. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.11. The stock has a market cap of $64.03 billion, a PE ratio of 29.86, a PEG ratio of 3.43 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.

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

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services's dividend payout ratio is presently 35.87%.

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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