KLP Kapitalforvaltning AS Buys 2,700 Shares of Republic Services, Inc. $RSG

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Republic Services by 2.7%, acquiring an additional 2,700 shares, bringing its total to 102,534 shares valued at approximately $25.3 million.
• Republic Services recently raised its quarterly dividend to $0.625 per share, demonstrating a positive shift from the previous dividend of $0.58.
• Analysts have mixed opinions on Republic Services, with current ratings reflecting an average target price of $259.60, including two "Strong Buy" and thirteen "Buy" ratings among reported assessments.

KLP Kapitalforvaltning AS lifted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,534 shares of the business services provider's stock after purchasing an additional 2,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Republic Services were worth $25,286,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Elevation Point Wealth Partners LLC lifted its position in shares of Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after purchasing an additional 46 shares in the last quarter. Gries Financial LLC lifted its position in shares of Republic Services by 3.8% in the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider's stock worth $308,000 after purchasing an additional 46 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Republic Services by 17.8% in the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider's stock worth $75,000 after purchasing an additional 46 shares in the last quarter. Hemington Wealth Management lifted its position in shares of Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after purchasing an additional 47 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its position in shares of Republic Services by 2.1% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider's stock worth $589,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RSG. National Bankshares dropped their price target on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Scotiabank upped their price target on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Citigroup dropped their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Barclays began coverage on shares of Republic Services in a research report on Friday, September 19th. They set an "equal weight" rating and a $240.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Republic Services in a research report on Monday, September 29th. They set a "buy" rating and a $257.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $259.60.

Republic Services Trading Down 0.3%

RSG stock opened at $222.53 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company's 50-day simple moving average is $230.62 and its 200 day simple moving average is $240.08. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a market capitalization of $69.48 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

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, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side 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 disclosed 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. 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 yield of 1.1%. Republic Services's dividend payout ratio is currently 36.98%.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were 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 approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,716,651.72. Following the sale, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Republic Services Company 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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