Gotham Asset Management LLC Has $25.09 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Gotham Asset Management LLC increased its stake in Republic Services, Inc. by 28.0%, owning 103,607 shares valued at approximately $25 million after purchasing an additional 22,678 shares in the first quarter.
• Republic Services has set its FY 2025 guidance at a projected 6.820-6.900 EPS, with analysts forecasting an average 6.86 EPS for the current year.
• The company recently announced an increased quarterly dividend of $0.625, up from $0.58, to be paid on October 15th, which represents an annualized dividend of $2.50 with a yield of 1.1%.

Gotham Asset Management LLC grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,607 shares of the business services provider's stock after purchasing an additional 22,678 shares during the period. Gotham Asset Management LLC's holdings in Republic Services were worth $25,089,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RSG. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.9% in the 1st 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Republic Services by 0.7% in the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock valued at $1,438,237,000 after buying an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Republic Services by 0.3% in the 1st 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 buying an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Republic Services by 4.3% in the 1st 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 in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after buying an additional 2,220,487 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

Republic Services stock traded up $0.91 during trading hours on Tuesday, reaching $229.04. 1,324,537 shares of the company were exchanged, compared to its average volume of 1,271,490. The firm 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 current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $236.85 and a 200 day moving average of $241.11. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the business 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 anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. 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 dividend yield of 1.1%. Republic Services's dividend payout ratio is currently 34.32%.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was 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 directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction on 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 transaction, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on RSG. JPMorgan Chase & Co. boosted their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. National Bank Financial raised Republic Services to a "hold" rating in a research note on Monday, May 26th. Melius started coverage on Republic Services in a research note on Monday, June 9th. They issued a "hold" rating for the company. BMO Capital Markets upped their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two equities research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

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.