Ieq Capital LLC Increases Position in Republic Services, Inc. $RSG

Key Points

• Ieq Capital LLC has increased its position in Republic Services, Inc. by 39.6% during the first quarter, resulting in holdings valued at approximately $1.67 million.
• Republic Services has raised its quarterly dividend from $0.58 to $0.625, with an ex-dividend date set for October 2nd, yielding 1.1% annually.
• The company reported earnings of $1.77 per share for the last quarter, surpassing analysts' expectations, and set its fiscal year 2025 guidance at $6.820-6.900 EPS.

Ieq Capital LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 39.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,914 shares of the business services provider's stock after acquiring an additional 1,963 shares during the quarter. Ieq Capital LLC's holdings in Republic Services were worth $1,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. Golden State Wealth Management LLC increased its position in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the period. TCTC Holdings LLC boosted its stake 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 buying an additional 66 shares in the last quarter. Key Financial Inc boosted its stake 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 buying an additional 99 shares in the last quarter. Elequin Capital LP bought a new position in Republic Services in the first quarter valued at about $30,000. Finally, Cheviot Value Management LLC bought a new position in Republic Services in the first quarter valued at about $49,000. Institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the 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 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. Corporate insiders own 0.11% of the company's stock.

Republic Services Trading Down 1.9%

Shares of RSG stock traded down $4.38 during trading hours on Friday, reaching $229.47. The company's stock had a trading volume of 1,086,708 shares, compared to its average volume of 938,245. The stock has a market capitalization of $71.65 billion, a P/E ratio of 33.95, a P/E/G ratio of 3.65 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. The firm's fifty day simple moving average is $237.22 and its 200 day simple moving average is $240.98. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is 34.32%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RSG. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Scotiabank upped their price objective on 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 given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus 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.