Republic Services, Inc. $RSG Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners reduced its holdings in Republic Services by 59.1%, selling 112,900 shares, which left them with 78,156 shares valued at approximately $18.93 million.
• Republic Services has set its fiscal year 2025 guidance at $6.820-6.900 EPS and recently posted earnings of $1.77 per share, beating estimates.
• The company announced an increase in its quarterly dividend to $0.625 per share, representing an annualized dividend of $2.50, with a yield of 1.1%.

Adage Capital Partners GP L.L.C. reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 59.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,156 shares of the business services provider's stock after selling 112,900 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Republic Services were worth $18,926,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RSG. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% during the first 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. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares during the period. Key Financial Inc lifted its holdings in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. Elequin Capital LP purchased a new position in Republic Services in the first quarter worth approximately $30,000. Finally, Cheviot Value Management LLC acquired a new stake in Republic Services during the first quarter worth $49,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 1.8%

Republic Services stock traded up $4.01 during trading on Thursday, reaching $232.52. The stock had a trading volume of 1,180,811 shares, compared to its average volume of 951,361. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The stock has a market cap of $72.60 billion, a PE ratio of 34.40, a P/E/G ratio of 3.57 and a beta of 0.59. The business has a 50 day moving average price of $236.19 and a 200 day moving average price of $240.94.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a $0.625 dividend. 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 an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares in the company, 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. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer increased their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Melius initiated coverage on Republic Services in a research report on Monday, June 9th. They issued a "hold" rating on the stock. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services 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.