M. Kraus & Co Invests $592,000 in Republic Services, Inc. $RSG

Key Points

• M. Kraus & Co invested approximately $592,000 in Republic Services, acquiring 2,402 shares during the second quarter.
• Major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock for over $1 million, increasing their ownership to nearly 110 million shares.
• Republic Services announced an increase in its quarterly dividend to $0.625 per share, reflecting a 1.1% dividend yield.

M. Kraus & Co acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,402 shares of the business services provider's stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RSG. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Capital Management Associates Inc acquired a new position in Republic Services during the first quarter valued at $314,000. Sumitomo Mitsui Trust Group Inc. raised its position in Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after buying an additional 4,110 shares during the period. Sowell Financial Services LLC acquired a new position in Republic Services during the first quarter valued at $260,000. Finally, GAMMA Investing LLC raised its position in Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after buying an additional 3,503 shares during the period. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling at Republic Services

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 purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The acquisition was disclosed in a filing with the SEC, 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 stock was 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 ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RSG has been the topic of several research reports. BMO Capital Markets upped their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial set a $260.00 target price on Republic Services and gave the stock an "outperform" rating in a research report on Monday. UBS Group set a $260.00 target price on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus initiated coverage on Republic Services in a research report on Monday, September 29th. They issued a "buy" rating and a $257.00 target price on the stock. Finally, Oppenheimer dropped their target price on Republic Services from $268.00 to $263.00 and set an "outperform" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.35.

Republic Services Trading Down 1.6%

Shares of RSG opened at $221.70 on Friday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year 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 stock has a 50 day simple moving average of $230.31 and a 200-day simple moving average of $239.88. The stock has a market cap of $69.22 billion, a PE ratio of 32.80, a PEG ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last issued its 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. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the prior year, the firm posted $1.61 EPS. Republic Services's quarterly revenue was up 4.6% compared to the same quarter last year. 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 EPS 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. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is 36.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.