Park Place Capital Corp Lowers Position in Republic Services, Inc. $RSG

Key Points

• Park Place Capital Corp reduced its stake in Republic Services, Inc. by 88.1% during Q2, now holding only 242 shares valued at $59,000.
• Several institutional investors, including Vanguard Group and JPMorgan Chase & Co., have increased their positions in Republic Services, demonstrating ongoing investor confidence.
• Republic Services announced a quarterly dividend of $0.625, an increase from the previous $0.58, reflecting a stable dividend policy and a 1.1% dividend yield.

Park Place Capital Corp lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 88.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242 shares of the business services provider's stock after selling 1,784 shares during the period. Park Place Capital Corp's holdings in Republic Services were worth $59,000 at the end of the most recent reporting period.

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

Insider Activity at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the company'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 sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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 $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a report on Monday, June 9th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Scotiabank raised their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average target price of $260.58.

Republic Services Price Performance

Shares of Republic Services stock opened at $229.52 on Wednesday. The stock has a market capitalization of $71.66 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The business's 50 day simple moving average is $232.64 and its two-hundred day simple moving average is $240.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion for 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm 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 $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is 34.32%.

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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