J. Safra Sarasin Holding AG Reduces Position in Republic Services, Inc. $RSG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Republic Services, Inc. by 7.7%, bringing its total ownership to 251,273 shares, which now represent 1.1% of its portfolio.
• Republic Services has recently declared a quarterly dividend of $0.625, marking an increase from its previous dividend of $0.58, with the next payment set for October 15th.
• The company's shares are currently trading at $227.28 with a market cap of $70.96 billion, and it recently reported earnings of $1.77 EPS for the last quarter, slightly exceeding analyst expectations.

J. Safra Sarasin Holding AG trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,273 shares of the business services provider's stock after selling 21,067 shares during the quarter. Republic Services comprises 1.1% of J. Safra Sarasin Holding AG's investment portfolio, making the stock its 28th biggest holding. J. Safra Sarasin Holding AG owned 0.08% of Republic Services worth $61,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted 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 acquiring an additional 106 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after buying an additional 110 shares during the period. Key Financial Inc lifted its holdings in shares of 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 period. TCTC Holdings LLC lifted its holdings in shares of 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 period. Finally, Elequin Capital LP acquired a new stake in shares of Republic Services in the 1st quarter valued at approximately $30,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of NYSE:RSG opened at $227.28 on Thursday. The company has a market cap of $70.96 billion, a P/E ratio of 33.62, a P/E/G ratio of 3.58 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The business has a fifty day simple moving average of $232.32 and a 200-day simple moving average of $240.36.

Republic Services (NYSE:RSG - Get Free Report) last issued 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 business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The company'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. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared 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. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's payout ratio is presently 34.32%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the business's 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. BMO Capital Markets raised their price target on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Scotiabank lifted their price objective on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Barclays started coverage on Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 price objective for the company. Finally, UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $260.58.

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.

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