Mirabaud & Cie SA Purchases Shares of 6,980 Republic Services, Inc. $RSG

Key Points

• Mirabaud & Cie SA has acquired a new stake in Republic Services, Inc., purchasing 6,980 shares valued at approximately $1.72 million.
• Republic Services has announced an increase in its quarterly dividend to $0.625 per share, up from the previous $0.58, with payment set for October 15th.
• The company's recent earnings report showed a year-over-year revenue increase of 4.6%, with an EPS of $1.77, exceeding analysts' expectations.

Mirabaud & Cie SA acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,980 shares of the business services provider's stock, valued at approximately $1,721,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of 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 worth $26,000 after acquiring an additional 106 shares during the period. Key Financial Inc increased its stake in shares of Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares during the period. TCTC Holdings LLC increased its stake in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after acquiring an additional 66 shares during the period. Elequin Capital LP acquired a new stake in shares of Republic Services in the first quarter worth $30,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Republic Services in the fourth quarter worth $44,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 1.6%

RSG stock opened at $228.46 on Monday. The stock has a market capitalization of $71.33 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.56 and a beta of 0.59. The firm has a 50-day simple moving average of $235.93 and a 200-day simple moving average of $241.03. 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, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share 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. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is an increase 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%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is presently 34.32%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group set a $260.00 price target on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Melius assumed 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 stock a "sector perform" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction dated 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 directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company's stock.

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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