Martingale Asset Management L P Sells 19,290 Shares of Republic Services, Inc. $RSG

Key Points

• Martingale Asset Management L P has reduced its stake in Republic Services by 12.9%, selling 19,290 shares to hold 130,075 shares, which now represent 0.8% of its total holdings.
• Several institutional investors, including Golden State Wealth Management LLC and Key Financial Inc, have significantly increased their positions in Republic Services by as much as 3,533.3% and 380.8%, respectively, indicating growing institutional interest.
• Republic Services announced an increase in its quarterly dividend from $0.58 to $0.625, with the next payment scheduled for October 15th, reflecting a commitment to returning value to shareholders.

Martingale Asset Management L P lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,075 shares of the business services provider's stock after selling 19,290 shares during the period. Republic Services accounts for 0.8% of Martingale Asset Management L P's holdings, making the stock its 25th biggest position. Martingale Asset Management L P's holdings in Republic Services were worth $31,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Key Financial Inc raised 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 valued at $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC raised 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 valued at $30,000 after purchasing an additional 66 shares during the period. Elequin Capital LP acquired a new stake in Republic Services in the 1st quarter valued at about $30,000. Finally, Park Square Financial Group LLC bought a new position in Republic Services during the fourth quarter worth about $44,000. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RSG. Robert W. Baird raised their price objective on Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. BMO Capital Markets raised their price target on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price for the company in a report on Monday, June 9th. Finally, Scotiabank lifted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Trading Up 0.5%

Shares of RSG opened at $236.0620 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.66 and a beta of 0.60. The business's fifty day moving average is $240.78 and its 200-day moving average is $240.19.

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 analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business'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 posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

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