Allstate Corp Buys 7,447 Shares of Republic Services, Inc. $RSG

Key Points

• Allstate Corp significantly increased its stake in Republic Services, acquiring an additional 7,447 shares, bringing its total holdings to 14,063 shares valued at $3.4 million.
• Republic Services recently raised its quarterly dividend to $0.625, reflecting an increase from the previous dividend of $0.58, with a yield of 1.1%.
• The company reported earnings of $1.77 per share, exceeding estimates, and set a FY 2025 EPS guidance between 6.820-6.900.

Allstate Corp grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 112.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,063 shares of the business services provider's stock after buying an additional 7,447 shares during the quarter. Allstate Corp's holdings in Republic Services were worth $3,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in Republic Services by 3,533.3% in 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 last quarter. Key Financial Inc lifted its stake in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC boosted its holdings in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Elequin Capital LP bought a new stake in Republic Services during the first quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC bought a new position in Republic Services in the fourth quarter worth approximately $44,000. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.6%

RSG stock opened at $234.1310 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The business has a 50 day simple moving average of $240.12 and a two-hundred day simple moving average of $240.39. The company has a market capitalization of $73.10 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 3.67 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business'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. Research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RSG shares. Morgan Stanley boosted their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Raymond James Financial upped their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Scotiabank boosted their price objective 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. Finally, Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. Two investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

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.

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