8,897 Republic Services, Inc. $RSG Shares Bought by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Republic Services stake by 11.7% in the third quarter, buying 8,897 shares to bring its holdings to 84,901 shares valued at approximately $17.8 million. Institutional investors collectively own 57.73% of the company.
• Analysts maintain a “Moderate Buy” consensus on RSG, with an average price target of $243.27. The company recently beat quarterly earnings and revenue estimates, reporting $1.85 in EPS and $4.43 billion in revenue.
• Republic Services raised its quarterly dividend from $0.625 to $0.67 per share, equivalent to an annualized dividend of $2.68 and a 1.1% yield. Major shareholder Cascade Investment also purchased 409,500 shares, while insiders acquired more than 6.25 million shares over the past three months.

Carnegie Investment Counsel lifted its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,901 shares of the business services provider's stock after buying an additional 8,897 shares during the quarter. Carnegie Investment Counsel's holdings in Republic Services were worth $17,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. BlackRock Inc. bought a new stake in Republic Services during the second quarter worth $3,798,092,000. State Street Corp raised its position in shares of Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock valued at $2,120,893,000 after buying an additional 160,051 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Republic Services during the 2nd quarter valued at about $682,573,000. Allspring Global Investments Holdings LLC lifted its stake in Republic Services by 68.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider's stock worth $497,828,000 after purchasing an additional 913,249 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Republic Services by 1.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,434 shares of the business services provider's stock valued at $454,379,000 after purchasing an additional 28,996 shares during the period. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RSG. Raymond James Financial set a $235.00 target price on shares of Republic Services in a research note on Friday, October 9th. The Goldman Sachs Group reduced their target price on shares of Republic Services from $256.00 to $246.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Sanford C. Bernstein upped their target price on shares of Republic Services from $220.00 to $227.00 and gave the stock a "market perform" rating in a report on Monday, August 10th. Barclays lifted their target price on Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, Wolfe Research assumed coverage on Republic Services in a research report on Tuesday, September 15th. They set a "peer perform" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $243.27.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the company's stock in a transaction on 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 completion of the transaction, the insider directly owned 116,166,330 shares in the company, valued at approximately $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders acquired 6,254,462 shares of company stock worth $1,380,321,958. Corporate insiders own 0.12% of the company's stock.

Republic Services Trading Up 1.8%

NYSE RSG opened at $233.04 on Wednesday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $233.42. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $71.36 billion, a PE ratio of 31.77, a P/E/G ratio of 3.68 and a beta of 0.39. The company has a fifty day moving average of $219.20 and a 200 day moving average of $214.17.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.04. The firm had revenue of $4.43 billion during the quarter, compared to analysts' expectations of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The business's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Research analysts forecast that Republic Services, Inc. will post 7.26 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Friday, October 2nd were issued a $0.67 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.6250. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, October 2nd. Republic Services's payout ratio is currently 37.96%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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