AQR Capital Management LLC Sells 38,836 Shares of Republic Services, Inc. $RSG

Key Points

• AQR Capital Management LLC reduced its holdings in Republic Services, Inc. by 5.0%, owning approximately $177.34 million worth of shares after selling 38,836 during the first quarter.
• Republic Services reported $1.77 EPS for its latest quarter, slightly beating the consensus estimate of $1.76, while revenue rose 4.6% year-over-year.
• The company announced an increase in its quarterly dividend, raising it to $0.625 per share, representing a dividend yield of 1.1%.

AQR Capital Management LLC lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 736,081 shares of the business services provider's stock after selling 38,836 shares during the quarter. AQR Capital Management LLC owned approximately 0.24% of Republic Services worth $177,337,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the period. Key Financial Inc raised its position 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 valued at $30,000 after acquiring an additional 99 shares during the period. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares during the period. Elequin Capital LP acquired a new stake in shares of Republic Services in the 1st quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $44,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the firm'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 transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares in the company, 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. 0.11% of the stock is owned by company insiders.

Republic Services Stock Up 0.1%

Shares of RSG traded up $0.15 during mid-day trading on Tuesday, hitting $228.28. 249,551 shares of the company's stock were exchanged, compared to its average volume of 1,266,972. The company has a market cap of $71.27 billion, a PE ratio of 33.79, a P/E/G ratio of 3.58 and a beta of 0.59. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a 50-day simple moving average of $236.85 and a 200 day simple moving average of $241.11. 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 (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 net margin of 12.97% and a return on equity of 18.27%. The business's quarterly 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, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share 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. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is 34.32%.

Analyst Ratings Changes

RSG has been the topic of a number of analyst reports. Oppenheimer increased their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Melius began coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. BMO Capital Markets raised their target price on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Two 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.