111 Capital Sells 1,823 Shares of Republic Services, Inc. $RSG

Key Points

• 111 Capital has reduced its stake in Republic Services, Inc. by 67.7%, now holding 868 shares worth approximately $214,000 after selling 1,823 shares in the second quarter.
• Analysts have mixed views on Republic Services, with a consensus rating of “Moderate Buy” and an average target price around $259.60.
• Republic Services declared an increase in its quarterly dividend from $0.58 to $0.625 per share, representing an annualized yield of 1.1%.

111 Capital cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 67.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 868 shares of the business services provider's stock after selling 1,823 shares during the period. 111 Capital's holdings in Republic Services were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after purchasing an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Republic Services by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after purchasing an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after purchasing an additional 224,867 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RSG shares. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Citigroup cut their target price on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. BMO Capital Markets raised their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an "outperform" rating in a research note on Monday. Finally, National Bankshares cut their target price on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $259.60.

Republic Services Trading Down 0.3%

RSG opened at $222.53 on Wednesday. The firm has a market cap of $69.48 billion, a P/E ratio of 32.92, a P/E/G ratio of 3.48 and a beta of 0.59. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $230.62 and a 200 day moving average of $240.08.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the company earned $1.61 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 36.98%.

Insider Transactions at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.

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