Republic Services, Inc. $RSG Shares Purchased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Republic Services, Inc. by 117.1% to a total of 8,465 shares, valued at approximately $2.05 million.
• Institutional investors and hedge funds now own 57.73% of Republic Services' stock, indicating strong institutional interest in the company.
• Republic Services announced a quarterly dividend of $0.625 per share, marking an increase from the previous dividend, with a yield of 1.1%.

Graham Capital Management L.P. grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 117.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,465 shares of the business services provider's stock after purchasing an additional 4,565 shares during the quarter. Graham Capital Management L.P.'s holdings in Republic Services were worth $2,050,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RSG. Golden State Wealth Management LLC lifted its stake 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 worth $26,000 after purchasing an additional 106 shares in the last quarter. Key Financial Inc raised its position in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC raised its position in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares during the period. Elequin Capital LP purchased a new stake in Republic Services in the first quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC purchased a new stake in Republic Services in the fourth quarter valued at approximately $44,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were 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 approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, the insider 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 disclosure for this purchase can be found here. Company insiders own 0.11% of the company's stock.

Republic Services Trading Down 1.9%

NYSE RSG traded down $4.38 during mid-day trading on Friday, reaching $229.47. 1,086,708 shares of the stock were exchanged, compared to its average volume of 938,245. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The business's fifty day simple moving average is $237.22 and its 200 day simple moving average is $240.98. The stock has a market capitalization of $71.65 billion, a PE ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

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. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is an increase 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%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is 34.32%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research reports. Raymond James Financial boosted their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Oppenheimer boosted their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Melius started coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $262.17.

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.