Republic Services, Inc. (NYSE:RSG) Holdings Lowered by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly reduced its holdings in Republic Services, Inc. by 72.3% during the first quarter, now owning 2,845 shares valued at $689,000.
• Republic Services recently announced an increase in its quarterly dividend to $0.625 per share, representing an annualized payout of $2.50 and a yield of 1.1%.
• The company's stock received varying ratings from analysts, with a consensus rating of "Moderate Buy," alongside a price target of $262.17.

Callan Family Office LLC lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 72.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,845 shares of the business services provider's stock after selling 7,433 shares during the quarter. Callan Family Office LLC's holdings in Republic Services were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tlwm increased its position in shares of Republic Services by 2.3% in the first quarter. Tlwm now owns 7,643 shares of the business services provider's stock worth $1,851,000 after acquiring an additional 169 shares in the last quarter. SouthState Corp boosted its stake in Republic Services by 1.6% in the 1st quarter. SouthState Corp now owns 25,999 shares of the business services provider's stock worth $6,296,000 after purchasing an additional 405 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in Republic Services by 7.5% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 85,469 shares of the business services provider's stock worth $20,697,000 after purchasing an additional 5,954 shares in the last quarter. Nuveen LLC acquired a new stake in Republic Services during the 1st quarter valued at $198,685,000. Finally, Cooper Financial Group purchased a new stake in shares of Republic Services in the first quarter valued at $253,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. BMO Capital Markets upped their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Citigroup raised their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Melius began coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Stock Performance

RSG opened at $232.70 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $72.65 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. The stock has a 50-day moving average of $242.43 and a 200-day moving average of $239.58. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 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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