Alliancebernstein L.P. Has $53.87 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Alliancebernstein L.P. reduced its stake in Republic Services, Inc. by 61.0%, now holding approximately 222,438 shares valued at $53.87 million.
• GAMMA Investing LLC increased its position significantly by 39,024.4%, acquiring an additional 2,220,487 shares during the first quarter.
• Republic Services announced a quarterly dividend increase to $0.625, with an annualized dividend yield of 1.1%, set to distribute on October 15th to shareholders of record on October 2nd.

Alliancebernstein L.P. decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 61.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,438 shares of the business services provider's stock after selling 347,543 shares during the quarter. Alliancebernstein L.P. owned about 0.07% of Republic Services worth $53,866,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted 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 valued at $4,543,231,000 after buying an additional 170,548 shares during the period. Wellington Management Group LLP boosted 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 valued at $1,438,237,000 after buying an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD boosted 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 valued at $1,292,050,000 after buying an additional 17,711 shares during the period. JPMorgan Chase & Co. boosted 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 valued at $695,541,000 after buying an additional 119,158 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after buying an additional 2,220,487 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of RSG traded up $3.86 during trading hours on Thursday, reaching $232.37. The stock had a trading volume of 707,463 shares, compared to its average volume of 1,268,603. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The stock has a market capitalization of $72.55 billion, a PE ratio of 34.37, a PEG ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company's 50-day moving average is $236.36 and its two-hundred day moving average is $240.94.

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

Republic Services Increases Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RSG. Scotiabank boosted their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Melius began coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. UBS Group set a $260.00 target price on Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial upped their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

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.