Candriam S.C.A. Acquires 9,360 Shares of Republic Services, Inc. $RSG

Key Points

• Candriam S.C.A. significantly increased its holdings in Republic Services, acquiring an additional 9,360 shares, raising its ownership by 275.1% to a total of 12,762 shares valued at approximately $3.09 million.
• Major shareholder Cascade Investment, L.L.C. purchased 4,258 shares at an average price of $234.91 per share, increasing its position marginally to 109,816,832 shares.
• Republic Services declared a quarterly dividend of $0.625 per share, up from the previous $0.58, with an ex-dividend date set for October 2nd.

Candriam S.C.A. lifted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 275.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,762 shares of the business services provider's stock after buying an additional 9,360 shares during the quarter. Candriam S.C.A.'s holdings in Republic Services were worth $3,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in 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 worth $26,000 after purchasing an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in Republic Services during the 1st quarter worth about $314,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Republic Services during the 1st quarter worth about $260,000. Finally, GAMMA Investing LLC raised its holdings in Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after purchasing an additional 3,503 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Republic Services Price Performance

NYSE RSG opened at $234.1310 on Friday. The business has a 50 day simple moving average of $240.12 and a 200 day simple moving average of $240.39. 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 quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $73.10 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 3.67 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the prior year, the business earned $1.61 EPS. Republic Services's revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share 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. Investors 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 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 dividend payout ratio (DPR) is currently 34.32%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Morgan Stanley upped their price target on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Robert W. Baird upped their price target on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Oppenheimer upped their price target on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Melius started coverage on Republic Services in a research note on Monday, June 9th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

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.

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