Panagora Asset Management Inc. Raises Stock Position in Republic Services, Inc. $RSG

Key Points

• Panagora Asset Management Inc. increased its stake in Republic Services by 771.3%, acquiring an additional 186,214 shares for a total of 210,357 shares, worth approximately $50.94 million.
• Republic Services has announced an increased quarterly dividend of $0.625 per share, up from $0.58, with the payment scheduled for October 15th.
• The company reported $1.77 earnings per share for its last quarter, slightly exceeding analyst expectations, while also providing FY 2025 guidance for 6.820-6.900 EPS.

Panagora Asset Management Inc. boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 771.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,357 shares of the business services provider's stock after purchasing an additional 186,214 shares during the period. Panagora Asset Management Inc. owned about 0.07% of Republic Services worth $50,940,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RSG. Brighton Jones LLC boosted its position in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after acquiring an additional 8,547 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in Republic Services by 2.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 4,663 shares of the business services provider's stock valued at $938,000 after acquiring an additional 107 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Republic Services by 9.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,205 shares of the business services provider's stock valued at $444,000 after acquiring an additional 182 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Republic Services by 4.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 64,077 shares of the business services provider's stock valued at $12,891,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its position in shares of Republic Services by 3.4% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 11,587 shares of the business services provider's stock worth $2,331,000 after purchasing an additional 384 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Up 0.7%

NYSE RSG traded up $1.67 during mid-day trading on Thursday, reaching $234.16. The stock had a trading volume of 176,897 shares, compared to its average volume of 1,271,148. The stock has a market cap of $73.11 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. 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 company has a fifty day moving average price of $237.74 and a 200 day moving average price of $240.95. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current 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 is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RSG. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Scotiabank boosted their price target on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Finally, Oppenheimer boosted their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Insiders Place Their Bets

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of 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 disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

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.