Republic Services, Inc. $RSG Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Republic Services, acquiring an additional 13,529 shares, bringing its total holdings to 77,962 shares worth approximately $19.2 million.
• Republic Services reported a quarterly EPS of $1.77, surpassing analysts' expectations, while the company's revenue rose by 4.6% year-over-year.
• The firm announced a quarterly dividend increase to $0.625 per share, representing a yield of 1.1% and a payout ratio of 36.98%.

QRG Capital Management Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 21.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,962 shares of the business services provider's stock after acquiring an additional 13,529 shares during the period. QRG Capital Management Inc.'s holdings in Republic Services were worth $19,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Segment Wealth Management LLC raised its holdings in Republic Services by 8.1% during the second quarter. Segment Wealth Management LLC now owns 5,690 shares of the business services provider's stock worth $1,403,000 after purchasing an additional 426 shares in the last quarter. Ascent Group LLC raised its stake in Republic Services by 6.3% during the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider's stock worth $4,701,000 after acquiring an additional 1,130 shares in the last quarter. Mattern Capital Management LLC lifted its position in Republic Services by 16.7% in the second quarter. Mattern Capital Management LLC now owns 3,481 shares of the business services provider's stock valued at $858,000 after acquiring an additional 499 shares during the last quarter. Hilltop National Bank acquired a new position in Republic Services in the second quarter valued at $47,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Republic Services by 56.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,710 shares of the business services provider's stock worth $8,067,000 after purchasing an additional 11,755 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of NYSE RSG opened at $224.14 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $69.98 billion, a PE ratio of 33.16, a P/E/G ratio of 3.50 and a beta of 0.59. The stock has a fifty day moving average price of $231.45 and a 200 day moving average price of $240.24. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS 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 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 36.98%.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm'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 completion of the sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Melius initiated coverage on Republic Services in a report on Monday, June 9th. They issued a "hold" rating for the company. Citigroup decreased their price objective on Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Scotiabank lifted their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. 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 report on Wednesday, July 9th. Finally, Stifel Nicolaus initiated coverage on shares of Republic Services in a research report on Monday, September 29th. They set a "buy" rating and a $257.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $260.58.

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.

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