Republic Services, Inc. $RSG Shares Bought by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in Republic Services, Inc. by 6.5% during the second quarter, owning 49,650 shares valued at approximately $12.24 million by the end of the quarter.
• Republic Services declared a new quarterly dividend of $0.625 per share, marking an increase from its previous dividend of $0.58, with an annualized yield of 1.1%.
• Analysts have raised their price targets for Republic Services, with Raymond James Financial setting a target of $260.00 and BMO Capital Markets at $284.00, indicating strong market confidence in the stock.

Czech National Bank increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,650 shares of the business services provider's stock after purchasing an additional 3,028 shares during the period. Czech National Bank's holdings in Republic Services were worth $12,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Republic Services by 14.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 910 shares of the business services provider's stock valued at $224,000 after purchasing an additional 112 shares during the last quarter. IAM Advisory LLC purchased a new position in shares of Republic Services during the second quarter valued at approximately $1,225,000. Chemistry Wealth Management LLC raised its holdings in shares of Republic Services by 7.3% during the second quarter. Chemistry Wealth Management LLC now owns 1,469 shares of the business services provider's stock valued at $362,000 after purchasing an additional 100 shares during the last quarter. Canandaigua National Trust Co of Florida purchased a new position in shares of Republic Services during the second quarter valued at approximately $371,000. Finally, Mirabaud & Cie SA purchased a new stake in Republic Services during the second quarter valued at approximately $1,721,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

RSG stock traded up $0.19 during trading on Friday, hitting $226.90. 1,968,166 shares of the company's stock traded hands, compared to its average volume of 1,272,372. The business has a fifty day simple moving average of $234.82 and a 200 day simple moving average of $240.67. 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 capitalization of $70.84 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.53 and a beta of 0.59.

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

Republic Services Increases Dividend

The firm also recently disclosed 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 is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's payout ratio is 34.32%.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased 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 owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction 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. The trade was 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.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Barclays assumed coverage on shares of Republic Services in a report on Friday. They set an "equal weight" rating and a $240.00 target price for the company. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Melius began coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Finally, Raymond James Financial upped their price target 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 nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $260.58.

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.