OMERS ADMINISTRATION Corp Reduces Stock Holdings in Republic Services, Inc. $RSG

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in Republic Services by 14.2%, now holding 7,883 shares valued at approximately $1.91 million.
• Republic Services recently increased its quarterly dividend to $0.625, representing an annualized basis of $2.50 and a dividend yield of 1.1%.
• The company reported a quarterly earnings per share (EPS) of $1.77, slightly surpassing analysts' expectations of $1.76, with revenues of $4.24 billion, marking a year-over-year increase of 4.6%.

OMERS ADMINISTRATION Corp cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,883 shares of the business services provider's stock after selling 1,309 shares during the period. OMERS ADMINISTRATION Corp's holdings in Republic Services were worth $1,909,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings 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 period. Key Financial Inc raised 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 buying an additional 99 shares during the period. TCTC Holdings LLC raised 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 buying an additional 66 shares during the period. Elequin Capital LP bought a new position in shares of Republic Services in the first quarter worth about $30,000. Finally, Park Square Financial Group LLC bought a new position in shares of Republic Services in the fourth quarter worth about $44,000. 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 the company's stock in a transaction that occurred 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 purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on 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 trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Republic Services Stock Up 0.7%

Shares of RSG traded up $1.57 during trading hours on Thursday, hitting $234.06. The company had a trading volume of 317,658 shares, compared to its average volume of 1,271,891. The company has a market capitalization of $73.08 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company's fifty day moving average price is $237.74 and its two-hundred day moving average price is $240.95.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, 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 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. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 34.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RSG. 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. Melius assumed coverage on Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. JPMorgan Chase & Co. boosted their price objective on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Oppenheimer lifted their target price on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and an average target price of $262.17.

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.