Republic Services, Inc. $RSG Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Republic Services, Inc. by 8.6%, selling 37,871 shares, and now holds 404,889 shares valued at approximately $98 million.
• Republic Services recently declared an increased quarterly dividend of $0.625 per share, up from $0.58, with an ex-dividend date set for October 2nd.
• The company reported a net margin of 12.97% and topped analysts' estimates with $1.77 earnings per share for the last quarter, meeting a revenue of $4.24 billion.

Acadian Asset Management LLC cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,889 shares of the business services provider's stock after selling 37,871 shares during the period. Acadian Asset Management LLC owned 0.13% of Republic Services worth $98,035,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in 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 worth $26,000 after buying an additional 106 shares during the period. TCTC Holdings LLC increased its position in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the period. Key Financial Inc grew its stake in shares of Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares in the last quarter. Elequin Capital LP bought a new position in shares of Republic Services in the first quarter worth $30,000. Finally, Cheviot Value Management LLC bought a new position in shares of Republic Services in the first quarter worth $49,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 0.0%

Shares of Republic Services stock opened at $228.20 on Wednesday. The stock has a 50-day moving average price of $236.54 and a 200 day moving average price of $241.03. The company has a market cap of $71.25 billion, a P/E ratio of 33.79, a P/E/G ratio of 3.56 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 1 year low of $197.60 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the business earned $1.61 EPS. The business'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. As a group, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is 34.32%.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost 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 approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The acquisition 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 firm's stock in a transaction that occurred 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer increased their price target on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Melius began coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Raymond James Financial raised their target price on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. 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 stock. Based on data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and an average price target of $262.17.

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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.