Caxton Associates LLP Buys Shares of 4,700 Republic Services, Inc. $RSG

Key Points

• Caxton Associates LLP has acquired a new position in Republic Services, Inc., purchasing 4,700 shares valued at approximately $1,138,000 in the first quarter.
• Insider activity includes EVP Gregg Brummer selling 7,338 shares, decreasing his position by 64.38%, while major shareholder Cascade Investment purchased 4,258 shares.
• Republic Services recently announced a quarterly dividend increase to $0.625, representing a 1.1% yield with a reported dividend payout ratio of 34.32%.

Caxton Associates LLP bought a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,700 shares of the business services provider's stock, valued at approximately $1,138,000.

Several other institutional investors have also added to or reduced their stakes in RSG. Golden State Wealth Management LLC boosted its stake 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 valued at $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc raised its holdings in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC raised its holdings in Republic Services by 113.8% during 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 stake in Republic Services during the first quarter valued at about $30,000. Finally, Park Square Financial Group LLC bought a new stake in Republic Services during the fourth quarter valued at about $44,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RSG. Melius began coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. BMO Capital Markets boosted their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial boosted their target price on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price for the company in a research report on Monday, June 9th. Finally, Scotiabank boosted their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Performance

RSG traded down $3.75 during midday trading on Friday, hitting $228.46. 891,769 shares of the company were exchanged, compared to its average volume of 955,511. The company's 50 day simple moving average is $235.93 and its 200 day simple moving average is $240.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The firm has a market capitalization of $71.33 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.59.

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 the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company posted $1.61 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is 34.32%.

Insider Transactions at Republic Services

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

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.