Republic Services, Inc. $RSG Shares Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Republic Services by 23.1%, owning 9,570 shares valued at $2.3 million after acquiring 1,793 additional shares in the first quarter.
• Republic Services has announced a quarterly dividend increase to $0.625 per share, up from the previous $0.58, with a payout scheduled for October 15th.
• Wall Street analysts have favorable outlooks for Republic Services, with several raising their price targets and a consensus rating of "Moderate Buy" with an average target price of $262.17.

Vident Advisory LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,570 shares of the business services provider's stock after purchasing an additional 1,793 shares during the period. Vident Advisory LLC's holdings in Republic Services were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC grew its stake in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares in the last quarter. Capital Management Associates Inc acquired a new stake in Republic Services in the first quarter valued at approximately $314,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Republic Services during the first quarter worth $260,000. Finally, GAMMA Investing LLC boosted its stake in shares of Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after purchasing an additional 3,503 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction dated 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 acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares in the company, 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. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RSG shares. Raymond James Financial boosted their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Melius Research raised Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research report on Monday, June 9th. Scotiabank raised their price target on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Performance

Shares of Republic Services stock traded down $4.38 during trading hours on Friday, reaching $229.47. The company's stock had a trading volume of 1,086,708 shares, compared to its average volume of 956,763. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company's 50 day simple moving average is $237.22 and its 200 day simple moving average is $241.13. 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 stock has a market cap of $71.65 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business 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 $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is 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.