Republic Services, Inc. $RSG Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Republic Services, Inc. by 21.1%, now owning approximately 461,006 shares valued at $111.6 million.
• Republic Services announced an increase in its quarterly dividend to $0.625 per share, effective for stockholders of record on October 2nd, with a dividend yield of 1.1%.
• Research analysts have set new price targets for Republic Services, with an average target price of $262.17 and diverse ratings ranging from Strong Buy to Hold.

Alyeska Investment Group L.P. lessened its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 21.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 461,006 shares of the business services provider's stock after selling 123,339 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.15% of Republic Services worth $111,637,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its position 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 valued at $26,000 after purchasing an additional 106 shares in the last quarter. Key Financial Inc boosted its position in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. TCTC Holdings LLC boosted its position in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Elequin Capital LP bought a new stake in Republic Services during the first quarter valued at about $30,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at $44,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

Shares of NYSE RSG traded down $4.38 during trading on Friday, reaching $229.47. 1,086,708 shares of the company traded hands, compared to its average volume of 938,245. The firm's fifty day simple moving average is $237.22 and its 200 day simple moving average is $240.98. The stock has a market cap of $71.65 billion, a P/E ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

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

Insider Transactions at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were 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 in the company, valued at approximately $25,797,072,005.12. This trade 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 owned by company insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of several analyst reports. National Bank Financial upgraded Republic Services to a "hold" rating in a report on Monday, May 26th. JPMorgan Chase & Co. increased their price objective on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Oppenheimer increased their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $262.17.

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.