Aberdeen Group plc Buys 6,701 Shares of Republic Services, Inc. $RSG

Key Points

• Aberdeen Group plc increased its stake in Republic Services by 5.8% in Q2, acquiring an additional 6,701 shares, bringing its total holdings to 122,299 shares valued at approximately $29.96 million.
• A number of hedge funds, including Golden State Wealth Management LLC, significantly increased their positions in Republic Services, indicating growing institutional interest in the stock.
• Republic Services has announced a quarterly dividend increase to $0.625 per share, up from $0.58, reflecting strong financial health with a payout ratio of 36.98% and a yield of 1.1%.

Aberdeen Group plc lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 122,299 shares of the business services provider's stock after acquiring an additional 6,701 shares during the period. Aberdeen Group plc's holdings in Republic Services were worth $29,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the period. Capital Management Associates Inc purchased a new position in Republic Services in the 1st quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. raised its position in Republic Services by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC purchased a new position in Republic Services in the 1st quarter worth $260,000. Finally, GAMMA Investing LLC raised its position in Republic Services by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after purchasing an additional 3,503 shares during the period. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on RSG. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Services in a research report on Wednesday, October 8th. BMO Capital Markets lifted their target price on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. National Bankshares decreased their price objective on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 7th. Stifel Nicolaus initiated coverage on shares of Republic Services in a research report on Monday, September 29th. They issued a "buy" rating and a $257.00 price objective on the stock. Finally, Barclays initiated coverage on shares of Republic Services in a research report on Friday, September 19th. They issued an "equal weight" rating and a $240.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.85.

Insider Activity

In related news, EVP Gregg Brummer sold 7,338 shares of the business's 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 sale, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction that occurred on 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 purchase, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $225.16 on Monday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company's 50-day moving average is $230.18 and its 200 day moving average is $239.81. The stock has a market capitalization of $70.30 billion, a P/E ratio of 33.31, a P/E/G ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed 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 is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is presently 36.98%.

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.

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