Rathbones Group PLC Buys 22,500 Shares of Republic Services, Inc. $RSG

Key Points

• Rathbones Group PLC increased its stake in Republic Services by 24.1% in the fourth quarter, buying 22,500 additional shares and bringing its total holdings to 115,682 shares worth about $24.5 million.
• Republic Services reported better-than-expected quarterly earnings, posting $1.70 EPS versus the $1.64 consensus and revenue of $4.11 billion, up 2.6% year over year.
• The company also announced a quarterly dividend of $0.625 per share, payable July 15, for an annualized dividend of $2.50 and a yield of about 1.2%.

Rathbones Group PLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,682 shares of the business services provider's stock after purchasing an additional 22,500 shares during the quarter. Rathbones Group PLC's holdings in Republic Services were worth $24,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RSG. Brighton Jones LLC lifted its position in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Federated Hermes Inc. lifted its position in Republic Services by 23.2% during the second quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock valued at $4,329,000 after purchasing an additional 3,303 shares during the last quarter. NewEdge Advisors LLC lifted its position in Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock valued at $7,322,000 after purchasing an additional 1,044 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Republic Services by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock valued at $23,336,000 after purchasing an additional 688 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock worth $2,871,000 after acquiring an additional 4,729 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 2.1%

Shares of NYSE RSG opened at $207.67 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75. The firm's fifty day moving average is $213.33 and its 200 day moving average is $214.87. The company has a market cap of $63.89 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 3.49 and a beta of 0.43.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's payout ratio is presently 35.87%.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares in the company, valued at $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 over the last quarter. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RSG shares. Citigroup decreased their price target on shares of Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Morgan Stanley decreased their price target on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 18th. Barclays lifted their price target on shares of Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Republic Services presently has an average rating of "Hold" and an average target price of $245.15.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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