Border to Coast Pensions Partnership Ltd Decreases Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Border to Coast Pensions Partnership Ltd reduced its stake in Republic Services, Inc. by 11.2% during the second quarter, selling 15,965 shares, leaving them with a total of 126,627 shares worth approximately $31.2 million.
• Republic Services recently declared a quarterly dividend increase to $0.625 per share, up from $0.58, which reflects a dividend yield of 1.1%.
• Several research firms have issued mixed ratings on Republic Services, with Raymond James increasing the price target to $260, while others have downgraded their ratings from "buy" to "hold."

Border to Coast Pensions Partnership Ltd decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,627 shares of the business services provider's stock after selling 15,965 shares during the quarter. Border to Coast Pensions Partnership Ltd's holdings in Republic Services were worth $31,227,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RSG. GAMMA Investing LLC raised its position in shares of Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after buying an additional 2,220,487 shares during the last quarter. C WorldWide Group Holding A S acquired a new position in Republic Services in the first quarter worth about $230,013,000. Nuveen LLC acquired a new position in Republic Services in the first quarter valued at about $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider's stock valued at $427,009,000 after purchasing an additional 384,695 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Republic Services in the first quarter valued at about $63,910,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Down 0.3%

NYSE:RSG traded down $0.77 on Monday, hitting $226.17. The stock had a trading volume of 957,217 shares, compared to its average volume of 1,270,621. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The business's fifty day moving average is $234.54 and its 200 day moving average is $240.71. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a market cap of $70.61 billion, a PE ratio of 33.46, a P/E/G ratio of 3.54 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company posted $1.61 earnings per share. Republic Services's quarterly 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. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 34.32%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of analyst reports. National Bank Financial raised Republic Services to a "hold" rating in a research note on Monday, May 26th. Barclays initiated coverage on Republic Services in a research report on Friday. They set an "equal weight" rating and a $240.00 price target for the company. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Melius started coverage on Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. Finally, Oppenheimer increased their price objective on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $260.58.

Insider Buying and Selling

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

Republic Services Company 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.