Flputnam Investment Management Co. Has $43.29 Million Stake in Republic Services, Inc. $RSG

Key Points

• Flputnam Investment Management Co. increased its stake in Republic Services by 1.5%, holding 178,780 shares valued at approximately $43.29 million, making it the firm's 23rd largest investment.
• Republic Services' quarterly earnings report showed an EPS of $1.77, slightly exceeding analysts' expectations, with revenue of $4.24 billion, reflecting a 4.6% increase year-over-year.
• The company recently announced a dividend increase to $0.625 per share, up from $0.58, with a dividend yield of 1.1%, to be paid on October 15th.

Flputnam Investment Management Co. raised its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,780 shares of the business services provider's stock after acquiring an additional 2,558 shares during the period. Republic Services makes up 0.8% of Flputnam Investment Management Co.'s investment portfolio, making the stock its 23rd largest position. Flputnam Investment Management Co. owned about 0.06% of Republic Services worth $43,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock valued at $4,543,231,000 after buying an additional 170,548 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after purchasing an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock valued at $1,292,050,000 after purchasing an additional 17,711 shares during the period. JPMorgan Chase & Co. boosted its stake in Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock valued at $695,541,000 after buying an additional 119,158 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after buying an additional 2,220,487 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Trading Up 0.5%

RSG opened at $234.23 on Friday. 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 business's 50 day moving average price is $238.66 and its 200 day moving average price is $240.93. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The stock has a market capitalization of $73.13 billion, a PE ratio of 34.65, a P/E/G ratio of 3.65 and a beta of 0.60.

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. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm's revenue was up 4.6% compared to the same quarter last year. During the same period 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. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 2nd. 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. Republic Services's dividend payout ratio is presently 34.32%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Scotiabank lifted their price target on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Finally, Oppenheimer lifted their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Insider Buying and Selling at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by insiders.

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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