Eventide Asset Management LLC Purchases 1,769 Shares of Republic Services, Inc. $RSG

Key Points

• Eventide Asset Management LLC has increased its holdings in Republic Services by 16%, amassing a position valued at $3.1 million as of the latest quarter.
• Major shareholder Cascade Investment, L.L.C. acquired over 4,258 shares of Republic Services in August, while EVP Gregg Brummer sold 7,338 shares, resulting in a significant decrease in his ownership.
• Analysts have raised price targets for Republic Services, with BMO Capital Markets setting a new target of $284.00, while two firms downgraded the stock's rating to a "hold."

Eventide Asset Management LLC raised its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,816 shares of the business services provider's stock after buying an additional 1,769 shares during the period. Eventide Asset Management LLC's holdings in Republic Services were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. Golden State Wealth Management LLC increased 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 in the last quarter. Capital Management Associates Inc purchased a new position in shares of Republic Services during the first quarter valued at approximately $314,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after buying an additional 4,110 shares in the last quarter. Sowell Financial Services LLC bought a new position in Republic Services during the 1st quarter valued at $260,000. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 3,503 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Shares of Republic Services stock traded up $0.91 during trading on Tuesday, hitting $229.04. 968,224 shares of the stock traded hands, compared to its average volume of 1,271,490. The stock has a market cap of $71.51 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.58 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The firm's fifty day moving average is $236.85 and its 200-day moving average is $241.11.

Republic Services (NYSE:RSG - Get Free Report) last issued 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. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is 34.32%.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business'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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated Friday, August 22nd. The stock was 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 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. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James Financial lifted their target price 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. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. BMO Capital Markets upped their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target for the company in a research note on Monday, June 9th. Finally, Oppenheimer upped their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $262.17.

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.