Price T Rowe Associates Inc. MD Has $1.29 Billion Holdings in Republic Services, Inc. $RSG

Key Points

• Price T Rowe Associates Inc. increased its stake in Republic Services by 0.3%, owning approximately 1.71% of the company, valued at over $1.29 billion.
• During the first quarter, several institutional investors significantly raised their positions in Republic Services, leading to institutional ownership reaching 57.73% of the company's total stock.
• Republic Services announced a quarterly dividend of $0.625 per share, reflecting a positive increase from the previous dividend of $0.58, with an annual yield of 1.1%.

Price T Rowe Associates Inc. MD increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,335,515 shares of the business services provider's stock after acquiring an additional 17,711 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.71% of Republic Services worth $1,292,050,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RSG. Brighton Jones LLC grew its holdings in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after acquiring an additional 8,547 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Republic Services by 1.6% in the fourth quarter. MML Investors Services LLC now owns 19,405 shares of the business services provider's stock worth $3,904,000 after buying an additional 314 shares during the period. Hsbc Holdings PLC boosted its position in shares of Republic Services by 5.0% in the fourth quarter. Hsbc Holdings PLC now owns 579,379 shares of the business services provider's stock worth $116,456,000 after buying an additional 27,453 shares during the period. MGO One Seven LLC boosted its position in shares of Republic Services by 125.7% in the fourth quarter. MGO One Seven LLC now owns 7,075 shares of the business services provider's stock worth $1,424,000 after buying an additional 3,941 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of Republic Services by 3.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 20,485 shares of the business services provider's stock worth $4,121,000 after buying an additional 769 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The stock was bought 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 directly owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RSG. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Citigroup raised their target price on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets lifted their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Down 0.9%

Shares of RSG traded down $2.0910 during mid-day trading on Monday, hitting $232.2290. 674,698 shares of the company's stock were exchanged, compared to its average volume of 1,288,756. The firm has a fifty day moving average of $240.12 and a two-hundred day moving average of $240.66. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The stock has a market cap of $72.51 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 3.66 and a beta of 0.60. 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 (NYSE:RSG - Get Free Report) last announced its quarterly 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $1.61 EPS. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 34.32%.

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.