OFI Invest Asset Management Acquires 25,967 Shares of Republic Services, Inc. $RSG

Key Points

• OFI Invest Asset Management has increased its stake in Republic Services, Inc. by 14.8% during Q2, now owning approximately 201,463 shares valued at $49.68 million.
• Republic Services plans to pay a quarterly dividend of $0.625 per share on October 15th, a rise from the previous dividend of $0.58, representing a 1.1% yield.
• Despite a modest earnings report that exceeded estimates, analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and a target price of $258.85.

OFI Invest Asset Management grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,463 shares of the business services provider's stock after purchasing an additional 25,967 shares during the quarter. OFI Invest Asset Management owned approximately 0.06% of Republic Services worth $49,683,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after acquiring an additional 170,548 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Republic Services by 0.7% in the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after buying an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Republic Services by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after buying an additional 17,711 shares during the period. JPMorgan Chase & Co. lifted its holdings in Republic Services by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after buying an additional 119,158 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Republic Services by 12.4% in the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after buying an additional 224,867 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer dropped their price objective on Republic Services from $268.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Republic Services in a research note on Wednesday. UBS Group set a $260.00 target price on Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. National Bankshares lowered their target price on Republic Services from $270.00 to $241.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus initiated coverage on Republic Services in a research note on Monday, September 29th. They issued a "buy" rating and a $257.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus price target of $258.85.

Republic Services Stock Up 1.6%

RSG stock opened at $225.16 on Friday. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The business has a fifty day moving average price of $230.18 and a 200-day moving average price of $239.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $70.30 billion, a P/E ratio of 33.31, a P/E/G ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given 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 an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 36.98%.

Insider Buying and Selling

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm'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 of the company's stock, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on 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 acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents 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.

About Republic Services

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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