Republic Services, Inc. $RSG Position Increased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Republic Services by 23.0%, acquiring an additional 48,959 shares for a total of 261,723 shares valued at $63,379,000.
• Several institutional investors, including Norinchukin Bank and Summit Financial LLC, have also increased their positions in Republic Services during the 1st quarter, indicating strong institutional interest with 57.73% of the stock owned by institutional investors.
• Republic Services announced a quarterly dividend of $0.625, an increase from the previous $0.58, reflecting confidence in financial stability with a payout ratio of 34.32%.

1832 Asset Management L.P. increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,723 shares of the business services provider's stock after purchasing an additional 48,959 shares during the period. 1832 Asset Management L.P. owned 0.08% of Republic Services worth $63,379,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norinchukin Bank The increased its position in Republic Services by 10.3% in the 1st quarter. Norinchukin Bank The now owns 8,063 shares of the business services provider's stock valued at $1,953,000 after acquiring an additional 751 shares during the period. CW Advisors LLC acquired a new position in shares of Republic Services during the 1st quarter valued at $552,000. Summit Financial LLC increased its position in shares of Republic Services by 4.2% during the 1st quarter. Summit Financial LLC now owns 11,772 shares of the business services provider's stock valued at $2,851,000 after purchasing an additional 478 shares during the period. Partners Capital Investment Group LLP acquired a new position in shares of Republic Services during the 1st quarter valued at $390,000. Finally, Price T Rowe Associates Inc. MD increased its position 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 purchasing an additional 17,711 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RSG shares. Scotiabank lifted their target price on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Oppenheimer lifted their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Melius started coverage on Republic Services in a report on Monday, June 9th. They issued a "hold" rating on the stock. Finally, Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of Republic Services stock opened at $234.1310 on Friday. The stock has a market cap of $73.10 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The business has a fifty day simple moving average of $240.12 and a 200-day simple moving average of $240.39. 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, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced 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. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is 34.32%.

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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