MBB Public Markets I LLC Invests $329,000 in Republic Services, Inc. $RSG

Key Points

• MBB Public Markets I LLC acquired a new position in Republic Services, purchasing 1,359 shares valued at approximately $329,000 during the 1st quarter of the year.
• Republic Services announced an increase in its quarterly dividend to $0.625 per share, up from $0.58, reflecting a commitment to return value to shareholders.
• Wall Street analysts have shown optimism, with updated target prices for Republic Services; Oppenheimer raised theirs to $268.00, maintaining an "outperform" rating.

MBB Public Markets I LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,359 shares of the business services provider's stock, valued at approximately $329,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Republic Services by 0.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the last quarter. Hemington Wealth Management increased its holdings in Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after buying an additional 47 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Republic Services by 9.3% during the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after purchasing an additional 51 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RSG shares. Melius started coverage on Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. Scotiabank raised their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. raised their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Wall Street Zen downgraded Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Oppenheimer raised their price target on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Price Performance

Shares of RSG stock traded down $3.75 during trading hours on Friday, reaching $228.46. The company's stock had a trading volume of 891,765 shares, compared to its average volume of 1,269,859. The firm's 50 day simple moving average is $236.19 and its 200-day simple moving average is $240.94. The company has a market capitalization of $71.33 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week 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.

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 the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current 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 issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was 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 approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price 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 of the company's stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

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.