Republic Services, Inc. $RSG Shares Bought by Visualize Group LP

Key Points

• Visualize Group LP has increased its stake in Republic Services, Inc. by 90.6%, now holding 82,808 shares valued at approximately $20 million, making it the firm's third largest holding.
• The company recently declared a quarterly dividend increase to $0.625, reflecting a boost from the previous $0.58 per share, and represents a yield of 1.1%.
• Republic Services reported better-than-expected earnings for the last quarter, with a net margin of 12.97% and a year-over-year revenue growth of 4.6%.

Visualize Group LP lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 90.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,808 shares of the business services provider's stock after acquiring an additional 39,372 shares during the period. Republic Services accounts for about 10.8% of Visualize Group LP's holdings, making the stock its 3rd biggest position. Visualize Group LP's holdings in Republic Services were worth $20,053,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Versant Capital Management Inc grew its position in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC grew its position in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after buying an additional 46 shares during the last quarter. Hemington Wealth Management grew its position in Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after buying an additional 47 shares during the last quarter. Finally, FORA Capital LLC grew its position in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after buying an additional 50 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's 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 purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Oppenheimer boosted their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Price Performance

Shares of NYSE:RSG traded down $4.38 during midday trading on Friday, hitting $229.47. 1,086,708 shares of the stock were exchanged, compared to its average volume of 938,245. The stock has a market cap of $71.65 billion, a P/E ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a 50 day moving average price of $237.22 and a 200-day moving average price of $240.98.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (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 the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. 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. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services's dividend payout ratio is presently 34.32%.

About Republic Services

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.