BI Asset Management Fondsmaeglerselskab A S Purchases 52,539 Shares of Republic Services, Inc. $RSG

Key Points

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BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 192.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,883 shares of the business services provider's stock after purchasing an additional 52,539 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Republic Services were worth $19,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC boosted 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 acquiring an additional 106 shares during the period. Key Financial Inc boosted its position in shares of Republic Services by 380.8% in the first 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 boosted its position 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 valued at $30,000 after acquiring an additional 66 shares during the period. Elequin Capital LP bought a new position in shares of Republic Services in the first quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC bought a new position in shares of Republic Services in the fourth quarter valued at approximately $44,000. Institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In other Republic Services news, 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 purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Raymond James Financial lifted their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, UBS Group set a $260.00 price target on shares of Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 0.6%

NYSE:RSG traded down $1.3090 during trading hours on Friday, hitting $234.1310. The company had a trading volume of 1,183,937 shares, compared to its average volume of 1,292,595. The company has a market capitalization of $73.10 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60. The stock has a 50-day moving average price of $240.45 and a 200 day moving average price of $240.29. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. 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 released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for 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 firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS 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 issued 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 dividend payout ratio (DPR) is presently 34.32%.

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.