Citizens Financial Group Inc. RI Makes New Investment in Republic Services, Inc. $RSG

Key Points

• Citizens Financial Group acquired 7,110 shares of Republic Services in the second quarter, valued at approximately $1.5 million. Institutional investors and hedge funds collectively own 57.73% of RSG.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and an average price target of $245.26, compared with the stock’s reported price of $217.17.
• Republic Services exceeded quarterly earnings and revenue expectations, while revenue rose 4.6% year over year. The company also increased its quarterly dividend to $0.67 per share, representing a 1.2% annual yield.

Citizens Financial Group Inc. RI acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,110 shares of the business services provider's stock, valued at approximately $1,515,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. BlackRock Inc. bought a new position in Republic Services in the second quarter worth $3,798,092,000. Norges Bank bought a new position in shares of Republic Services during the 4th quarter worth approximately $617,165,000. Capital World Investors grew its position in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock valued at $1,857,698,000 after acquiring an additional 1,899,183 shares during the period. Morgan Stanley boosted its stake in shares of Republic Services by 38.6% in the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after purchasing an additional 1,490,719 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Republic Services during the 2nd quarter valued at about $236,628,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RSG shares. Barclays boosted their target price on Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Citigroup upped their target price on shares of Republic Services from $247.00 to $259.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $249.00 price target on shares of Republic Services in a report on Friday, May 8th. Finally, UBS Group raised their target price on shares of Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $245.26.

Republic Services Stock Performance

Shares of Republic Services stock opened at $217.17 on Wednesday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $238.62. The stock's fifty day simple moving average is $214.36 and its 200 day simple moving average is $214.94. The company has a market capitalization of $66.50 billion, a PE ratio of 30.76, a PEG ratio of 3.51 and a beta of 0.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.04. The business had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, research analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be given a dividend of $0.67 per share. This is an increase from Republic Services's previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 2nd. Republic Services's payout ratio is currently 35.41%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 261,664 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $214.89 per share, for a total transaction of $56,228,976.96. Following the completion of the acquisition, the insider directly owned 111,065,646 shares of the company's stock, valued at approximately $23,866,896,668.94. This trade represents a 0.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares of the company's stock, valued at $12,254.24. The trade was a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 1,220,674 shares of company stock valued at $263,117,588. 0.12% of the stock is owned by corporate insiders.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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