Korea Investment CORP Has $38.45 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Korea Investment CORP reduced its holdings in Republic Services by 2.1%, selling 3,379 shares, bringing their total ownership to 158,790 shares valued at approximately $38.5 million.
• Several institutional investors, including Golden State Wealth Management and Key Financial Inc, significantly increased their stakes in Republic Services during the first quarter, indicating changing investor sentiment.
• Republic Services announced a quarterly dividend increase to $0.625 per share, representing a 1.1% yield, up from $0.58, with dividends payable on October 15th.

Korea Investment CORP trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,790 shares of the business services provider's stock after selling 3,379 shares during the quarter. Korea Investment CORP owned 0.05% of Republic Services worth $38,453,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake 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 worth $26,000 after acquiring an additional 106 shares in the last quarter. Key Financial Inc grew its stake 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 worth $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC grew its stake 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 worth $30,000 after acquiring an additional 66 shares in the last quarter. Elequin Capital LP bought a new position in shares of Republic Services during the 1st quarter worth approximately $30,000. Finally, Park Square Financial Group LLC bought a new position in shares of Republic Services during the 4th quarter worth approximately $44,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

RSG stock traded down $1.3090 during trading hours on Friday, hitting $234.1310. 1,183,937 shares of the stock were exchanged, compared to its average volume of 1,364,523. 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 firm has a market capitalization of $73.10 billion, a P/E ratio of 34.63, a P/E/G ratio of 3.67 and a beta of 0.60. The company has a 50-day simple moving average of $240.12 and a two-hundred day simple moving average of $240.39. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, analysts forecast 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. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. 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 dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is 34.32%.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought 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 owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

RSG has been the subject of several recent analyst reports. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. BMO Capital Markets increased their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price objective for the company in a report on Monday, June 9th. Citigroup raised their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Scotiabank raised their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Two 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 company. Based on data from MarketBeat.com, Republic Services 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.