Kovitz Investment Group Partners LLC Buys 2,843 Shares of Republic Services, Inc. $RSG

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Republic Services by 81.1%, acquiring an additional 2,843 shares, bringing its total to 6,347 shares valued at $1,537,000.
• Republic Services has seen recent increases in positions by several other large investors, with Marshall Wace LLP boosting its stake by 225.8% during the same period.
• The company announced a quarterly dividend increase to $0.625 per share, reflecting positive financial growth, with a dividend yield of 1.1%.

Kovitz Investment Group Partners LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 81.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,347 shares of the business services provider's stock after buying an additional 2,843 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Republic Services were worth $1,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ground Swell Capital LLC bought a new stake in shares of Republic Services during the first quarter worth $245,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Republic Services by 52.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,574 shares of the business services provider's stock worth $27,745,000 after buying an additional 39,500 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Republic Services by 5.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,474 shares of the business services provider's stock worth $1,568,000 after buying an additional 319 shares during the last quarter. Financial Network Wealth Advisors LLC grew its stake in shares of Republic Services by 92.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 627 shares of the business services provider's stock worth $152,000 after buying an additional 302 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Republic Services by 7.2% during the first quarter. National Pension Service now owns 353,562 shares of the business services provider's stock worth $85,619,000 after buying an additional 23,805 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 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 completion of the purchase, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company's stock.

Republic Services Trading Down 0.6%

RSG stock traded down $1.3090 during midday trading on Friday, hitting $234.1310. The stock had a trading volume of 1,183,937 shares, compared to its average volume of 1,292,595. The firm has a market cap of $73.10 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The business has a fifty day moving average price of $240.45 and a two-hundred day moving average price of $240.29.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (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 analyst estimates 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 for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts predict 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. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 34.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RSG shares. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a report on Monday, May 26th. BMO Capital Markets lifted their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. UBS Group set a $260.00 price target on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

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.