Baird Financial Group Inc. Buys 1,301 Shares of Republic Services, Inc. $RSG

Key Points

• Baird Financial Group Inc. increased its stake in Republic Services, Inc. by 1.1%, now owning 121,705 shares valued at approximately $29.47 million.
• Research analysts have raised their price targets for Republic Services, with JPMorgan Chase & Co. increasing it from $229.00 to $275.00, indicating a "neutral" rating.
• Republic Services announced an increase in its quarterly dividend to $0.625 per share, representing a 1.1% dividend yield, up from the previous $0.58 per share.

Baird Financial Group Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,705 shares of the business services provider's stock after acquiring an additional 1,301 shares during the period. Baird Financial Group Inc.'s holdings in Republic Services were worth $29,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RSG. GAMMA Investing LLC boosted its position in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. C WorldWide Group Holding A S acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $230,013,000. Nuveen LLC acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $198,685,000. Balyasny Asset Management L.P. boosted its position in shares of Republic Services by 176.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider's stock worth $110,298,000 after acquiring an additional 350,221 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $65,201,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RSG shares. BMO Capital Markets increased their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial increased their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. UBS Group set a $260.00 price target on Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Trading Down 1.9%

Shares of NYSE:RSG traded down $4.38 during mid-day trading on Friday, reaching $229.47. 1,086,708 shares of the company's stock were exchanged, compared to its average volume of 938,245. The firm has a market capitalization of $71.65 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. The business's fifty day moving average price is $237.22 and its 200-day moving average price is $240.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 EPS 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. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, 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. 0.11% of the stock is owned by insiders.

Republic Services Company 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.