Korea Investment CORP Purchases New Stake in Republic Services, Inc. $RSG

Korea Investment CORP acquired a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 96,688 shares of the business services provider's stock, valued at approximately $20,602,000.

Several other large investors have also made changes to their positions in RSG. BlackRock Inc. bought a new stake in Republic Services during the second quarter worth $3,798,092,000. State Street Corp raised its holdings in shares of Republic Services by 1.7% during the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock worth $2,054,820,000 after buying an additional 166,474 shares in the last quarter. Capital World Investors lifted its position in shares of Republic Services by 27.7% during the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock worth $1,857,698,000 after buying an additional 1,899,183 shares during the last quarter. Morgan Stanley boosted its stake in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock valued at $1,133,509,000 after buying an additional 1,490,719 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Republic Services by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock valued at $1,074,513,000 after acquiring an additional 807,525 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 261,664 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $214.89 per share, for a total transaction of $56,228,976.96. Following the transaction, the insider directly owned 111,065,646 shares in the company, valued at approximately $23,866,896,668.94. This trade represents a 0.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 1,599,643 shares of company stock valued at $346,519,404. Corporate insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RSG shares. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Citigroup increased their price objective on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley set a $232.00 price target on shares of Republic Services in a report on Friday, August 7th. Finally, Argus lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $245.26.

Republic Services Trading Down 0.1%

NYSE RSG opened at $220.45 on Monday. The firm has a market capitalization of $67.50 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 3.66 and a beta of 0.40. The business's 50-day moving average price is $214.96 and its two-hundred day moving average price is $215.04. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $237.06.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.04. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, analysts expect that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.62. Republic Services's dividend payout ratio (DPR) is 35.41%.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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