Goldman Sachs Group Inc. Acquires 225,835 Shares of Republic Services, Inc. $RSG

Key Points

• Goldman Sachs Group Inc. increased its stake in Republic Services, Inc. by 16.1%, owning 1,630,764 shares valued at approximately $394.9 million as of its latest SEC filing.
• Republic Services reported $1.77 earnings per share for the last quarter, exceeding the consensus estimate, with revenue reaching $4.24 billion, representing a 4.6% year-over-year increase.
• The company announced a quarterly dividend increase to $0.625 per share, marking a positive change from the previous quarter's dividend of $0.58, with an annualized yield of 1.1%.

Goldman Sachs Group Inc. boosted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,630,764 shares of the business services provider's stock after purchasing an additional 225,835 shares during the period. Goldman Sachs Group Inc. owned approximately 0.52% of Republic Services worth $394,906,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. TCTC Holdings LLC boosted its position in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares during the last quarter. Key Financial Inc boosted its position in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after buying an additional 99 shares during the last quarter. Elequin Capital LP purchased a new position in Republic Services in the 1st quarter valued at about $30,000. Finally, Cheviot Value Management LLC purchased a new position in Republic Services in the 1st quarter valued at about $49,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Oppenheimer raised their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the firm's 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 of the company's stock, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

Republic Services Stock Performance

Shares of NYSE:RSG traded down $3.75 during trading hours on Friday, hitting $228.46. The stock had a trading volume of 891,769 shares, compared to its average volume of 1,269,885. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year 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 firm has a market capitalization of $71.33 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.57 and a beta of 0.59. The stock's fifty day simple moving average is $236.19 and its 200 day simple moving average is $240.94.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating 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 business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business earned $1.61 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share 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 issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's payout ratio is 34.32%.

Republic Services 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.