LGT Fund Management Co Ltd. Lowers Holdings in Republic Services, Inc. $RSG

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Republic Services, Inc. by 74.8%, owning only 1,600 shares after selling 4,755 shares during the 2nd quarter.
• Insider Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services at an average price of $234.91, increasing their ownership to approximately $25.8 billion in value.
• Republic Services announced a quarterly dividend increase to $0.625 per share, representing an annualized dividend of $2.50 and a yield of 1.1%.

LGT Fund Management Co Ltd. cut its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 74.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600 shares of the business services provider's stock after selling 4,755 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Republic Services were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after buying an additional 110 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Key Financial Inc increased its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the last quarter. Finally, Elequin Capital LP bought a new position in shares of Republic Services in the 1st quarter worth $30,000. Institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Republic Services Price Performance

Shares of Republic Services stock opened at $224.14 on Friday. The firm has a market cap of $69.98 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $231.45 and its two-hundred day simple moving average is $240.24.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 36.98%.

Analyst Ratings Changes

A number of brokerages have recently commented on RSG. Stifel Nicolaus started coverage on shares of Republic Services in a report on Monday, September 29th. They issued a "buy" rating and a $257.00 price target on the stock. Scotiabank increased their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Melius Research raised 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. Barclays started coverage on shares of Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price on the stock. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $260.58.

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.

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