Bank of New York Mellon Corp Purchases New Position in Republic Services, Inc. $RSG

Bank of New York Mellon Corp bought a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,034,949 shares of the business services provider's stock, valued at approximately $220,527,000. Bank of New York Mellon Corp owned 0.34% of Republic Services at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RSG. Brighton Jones LLC lifted its stake in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares in the last quarter. Federated Hermes Inc. boosted its stake in Republic Services by 23.2% during the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock worth $4,329,000 after buying an additional 3,303 shares during the last quarter. NewEdge Advisors LLC raised its stake in Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock worth $7,322,000 after purchasing an additional 1,044 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Republic Services by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock worth $23,336,000 after buying an additional 688 shares during the last quarter. Finally, Ieq Capital LLC raised its position in Republic Services by 68.4% in the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock valued at $2,871,000 after purchasing an additional 4,729 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RSG shares. UBS Group boosted their price objective on Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a report on Monday, May 11th. Barclays boosted their target price on shares of Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.26.

Insider Activity

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company's stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 261,664 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $214.89 per share, for a total transaction of $56,228,976.96. Following the acquisition, the insider owned 111,065,646 shares in the company, valued at approximately $23,866,896,668.94. This trade represents a 0.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,599,643 shares of company stock worth $346,519,404 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of RSG stock opened at $220.45 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $214.96 and a 200-day simple moving average of $215.05. The company has a market cap of $67.50 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 3.61 and a beta of 0.40. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $237.06.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.04. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. This is a positive change from Republic Services's previous quarterly dividend of $0.62. The ex-dividend date is Friday, October 2nd. Republic Services's dividend payout ratio (DPR) is 35.41%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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