First United Bank & Trust Increases Stock Holdings in Republic Services, Inc. $RSG

Key Points

• First United Bank & Trust has increased its stake in Republic Services, Inc. by 54.8% in the second quarter, acquiring a total of 3,925 shares valued at approximately $968,000.
• Republic Services recently announced a quarterly dividend increase to $0.625 per share from its previous $0.58, representing an annualized dividend of $2.50 and a yield of 1.1%.
• The company's stock opened at $228.91 with a market capitalization of $71.47 billion, and it reported quarterly earnings of $1.77 per share, slightly above analysts' expectations.

First United Bank & Trust increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 54.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,925 shares of the business services provider's stock after buying an additional 1,390 shares during the quarter. First United Bank & Trust's holdings in Republic Services were worth $968,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RSG. C WorldWide Group Holding A S purchased a new position in shares of Republic Services during the 1st quarter worth about $230,013,000. Nuveen LLC bought a new stake in Republic Services in the first quarter worth about $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Republic Services by 27.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider's stock valued at $427,009,000 after buying an additional 384,695 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Republic Services during the first quarter valued at approximately $63,910,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Republic Services by 16.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,764 shares of the business services provider's stock worth $394,906,000 after buying an additional 225,835 shares during the period. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of RSG opened at $228.91 on Tuesday. 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 50-day moving average of $232.89 and a two-hundred day moving average of $240.53. The stock has a market cap of $71.47 billion, a P/E ratio of 33.86, a P/E/G ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The company's revenue 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, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is 36.98%.

Wall Street Analyst Weigh In

RSG has been the topic of several research analyst reports. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price target on the stock in a report on Monday, June 9th. BMO Capital Markets lifted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Oppenheimer upped their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Scotiabank lifted their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $260.58.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the acquisition, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm's 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 sale, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

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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