Amundi Sells 2,836 Shares of Republic Services, Inc. $RSG

Key Points

• Amundi reduced its position in Republic Services, Inc. by 0.3%, selling 2,836 shares and holding approximately 1 million shares valued at $250.68 million.
• Republic Services plans to increase its quarterly dividend from $0.58 to $0.625, representing an annualized rate of $2.50 and a yield of 1.1%.
• Analyst ratings for Republic Services suggest a consensus of "Moderate Buy" with a target price of $262.17, indicating positive sentiment among investors despite a recent slight decrease in stock holdings by some investors.

Amundi lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,009,226 shares of the business services provider's stock after selling 2,836 shares during the quarter. Amundi owned approximately 0.32% of Republic Services worth $250,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in shares of 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 valued at $26,000 after buying an additional 106 shares during the last quarter. Key Financial Inc grew its stake in Republic Services by 380.8% during the 1st 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 in the last quarter. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services during the 1st quarter worth approximately $30,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG traded down $1.70 on Wednesday, hitting $227.37. 199,862 shares of the company traded hands, compared to its average volume of 1,267,087. The company has a 50 day moving average of $236.54 and a 200-day moving average of $241.03. 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 $70.99 billion, a PE ratio of 33.63, a PEG ratio of 3.56 and a beta of 0.59. 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 (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping 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 analyst estimates of $4.26 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business's 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. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current 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 paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is 34.32%.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares of the company's stock, valued at approximately $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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RSG. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.