Intech Investment Management LLC Cuts Holdings in Republic Services, Inc. $RSG

Key Points

• Intech Investment Management LLC reduced its holdings in Republic Services, Inc. by 27.5%, selling 15,684 shares, leaving it with 41,321 shares valued at approximately $10 million as of the latest SEC filing.
• Republic Services announced a quarterly dividend increase to $0.625, payable on October 15th, representing an annual yield of 1.1% and a payout ratio of 34.32%.
• For the most recent quarter, Republic Services reported $1.77 EPS, slightly exceeding the consensus estimate, alongside a year-over-year revenue growth of 4.6%.

Intech Investment Management LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 27.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,321 shares of the business services provider's stock after selling 15,684 shares during the quarter. Intech Investment Management LLC's holdings in Republic Services were worth $10,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of 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 valued at $26,000 after buying an additional 106 shares during the period. TCTC Holdings LLC lifted its holdings in shares of Republic Services by 113.8% during 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 period. Key Financial Inc lifted its holdings in shares of Republic Services by 380.8% during 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 period. Elequin Capital LP bought a new position in shares of Republic Services during the 1st quarter valued at $30,000. Finally, Cheviot Value Management LLC bought a new position in Republic Services in the 1st quarter worth $49,000. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Down 0.3%

RSG opened at $228.39 on Thursday. The firm has a market cap of $71.31 billion, a P/E ratio of 33.79, a P/E/G ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. 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 $236.36 and a 200 day moving average of $240.94.

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 the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during 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 quarter last year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase 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 recently commented on RSG. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Raymond James Financial increased their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, BMO Capital Markets increased their price target on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $262.17.

Insider Activity

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

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.

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