Lbp Am Sa Sells 59,019 Shares of Republic Services, Inc. $RSG

Key Points

• Lbp Am Sa reduced its stake in Republic Services by 47.3% during the second quarter, now owning 65,704 shares valued at approximately $16.2 million.
• Republic Services recently increased its quarterly dividend to $0.625 per share, reflecting an annual yield of 1.1%, with the previous dividend being $0.58.
• Market analysts have given a "Moderate Buy" rating to Republic Services, with an average target price of $260.58 per share based on various estimates from multiple firms.

Lbp Am Sa lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 47.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,704 shares of the business services provider's stock after selling 59,019 shares during the quarter. Lbp Am Sa's holdings in Republic Services were worth $16,203,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RSG. Brighton Jones LLC grew its position in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Republic Services by 3.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,271 shares of the business services provider's stock worth $550,000 after buying an additional 80 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Republic Services by 9.7% during the first quarter. Merit Financial Group LLC now owns 2,976 shares of the business services provider's stock valued at $721,000 after purchasing an additional 264 shares during the last quarter. RFG Advisory LLC lifted its holdings in Republic Services by 2.4% during the first quarter. RFG Advisory LLC now owns 10,275 shares of the business services provider's stock valued at $2,488,000 after purchasing an additional 239 shares during the last quarter. Finally, Crestmont Private Wealth LLC purchased a new stake in Republic Services during the first quarter valued at about $202,000. Institutional investors own 57.73% of the company's stock.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction 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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RSG shares. Melius started coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. Scotiabank increased their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Citigroup cut their target price on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday, June 9th. Finally, Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $260.58.

Republic Services Trading Up 0.2%

Shares of NYSE:RSG opened at $229.52 on Wednesday. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. 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 company has a market cap of $71.66 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The stock has a 50 day moving average of $232.64 and a 200 day moving average of $240.45.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 34.32%.

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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