BNP Paribas Financial Markets Raises Stake in Republic Services, Inc. $RSG

Key Points

• BNP Paribas Financial Markets increased its stake in Republic Services, Inc. by 10%, acquiring an additional 43,387 shares and owning a total of 479,222 shares valued at approximately $116 million.
• Republic Services recently announced a quarterly dividend increase to $0.625 per share, marking a rise from the previous $0.58, with an annualized dividend yield of 1.1%.
• The company reported quarterly earnings of $1.77 EPS, exceeding estimates by a small margin, alongside a revenue of $4.24 billion, with a year-over-year revenue growth of 4.6%.

BNP Paribas Financial Markets boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,222 shares of the business services provider's stock after purchasing an additional 43,387 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Republic Services worth $116,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in shares of Republic Services by 3,533.3% during the 1st 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 in the last quarter. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc raised its position in shares of 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 buying an additional 99 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Republic Services during the 1st quarter valued at $30,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Republic Services during the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated 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 transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RSG. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius began coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating on the stock. Oppenheimer lifted their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial lifted their target price on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Trading Up 0.7%

Republic Services stock traded up $1.52 during trading hours on Thursday, reaching $234.01. The stock had a trading volume of 709,284 shares, compared to its average volume of 982,467. The company has a fifty day simple moving average of $237.52 and a 200-day simple moving average of $240.97. The stock has a market cap of $73.06 billion, a PE ratio of 34.62, a PEG ratio of 3.63 and a beta of 0.59. 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, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results 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 firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company'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 firm posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business 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 dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 34.32%.

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.