Carmignac Gestion Purchases Shares of 7,761 Republic Services, Inc. $RSG

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,761 shares of the business services provider's stock, valued at approximately $1,879,000.

Several other hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after buying an additional 46 shares during the period. Elevation Point Wealth Partners LLC increased its position in Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after purchasing an additional 46 shares during the period. Hemington Wealth Management increased its position in Republic Services by 6.2% during the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after purchasing an additional 47 shares during the period. Finally, FORA Capital LLC lifted its position in shares of Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after buying an additional 50 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of NYSE RSG traded down $1.3090 during trading hours on Friday, reaching $234.1310. The stock had a trading volume of 1,183,937 shares, compared to its average volume of 1,292,595. The firm has a market cap of $73.10 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 3.68 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm has a 50-day moving average of $240.45 and a 200-day moving average of $240.29.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the business earned $1.61 EPS. The firm's revenue 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. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is 34.32%.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RSG shares. Melius initiated coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating on the stock. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. BMO Capital Markets raised their price target 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 upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Company Profile

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.