Punch & Associates Investment Management Inc. Sells 9,491 Shares of Republic Services, Inc. $RSG

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Republic Services, Inc. by 16.1%, selling 9,491 shares, and now holds 49,542 shares worth approximately $11,997,000.
• Republic Services recently announced a quarterly dividend increase to $0.625 per share, with the ex-dividend date set for October 2nd, indicating a 1.1% yield.
• Wall Street analysts have set a consensus rating of "Moderate Buy" for Republic Services, with an average price target of $262.17, following various adjustments from multiple firms.

Punch & Associates Investment Management Inc. cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,542 shares of the business services provider's stock after selling 9,491 shares during the period. Punch & Associates Investment Management Inc.'s holdings in Republic Services were worth $11,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC lifted its position in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares in the last quarter. Key Financial Inc raised its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new position in Republic Services during the first quarter worth about $30,000. Finally, Park Square Financial Group LLC bought a new position in Republic Services during the fourth quarter worth about $44,000. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research analyst reports. Scotiabank lifted their price target on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Raymond James Financial raised their target price on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer upped their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $229.47 on Friday. The company's 50 day moving average price is $237.22 and its two-hundred day moving average price is $240.98. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The firm has a market cap of $71.65 billion, a PE ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. 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 (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The business's revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

Insider Buying and Selling

In other news, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction that occurred 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 owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired 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 of the company's stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company's stock.

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.

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