Republic Services, Inc. $RSG Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management reduced its Republic Services stake by 11.9% in the second quarter, selling 7,949 shares and retaining 58,658 shares valued at approximately $12.5 million.
• Insider activity was strongly positive: Cascade Investment purchased 329,200 shares for roughly $73.5 million, while company insiders bought more than 4.2 million shares worth $926.7 million over the past quarter.
• Republic Services exceeded quarterly earnings and revenue expectations, raised its quarterly dividend from $0.62 to $0.67 per share, and maintains a “Moderate Buy” analyst consensus with an average price target of $245.26.

Azimuth Capital Investment Management LLC trimmed its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 58,658 shares of the business services provider's stock after selling 7,949 shares during the period. Azimuth Capital Investment Management LLC's holdings in Republic Services were worth $12,499,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RSG. Wealth Watch Advisors INC acquired a new stake in Republic Services during the 3rd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new position in Republic Services in the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Republic Services during the second quarter worth approximately $27,000. Compass Financial Management LLC purchased a new position in Republic Services in the second quarter worth approximately $27,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Republic Services during the 4th quarter worth $30,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 329,200 shares of the stock in a transaction on Wednesday, September 2nd. The stock was bought at an average price of $223.27 per share, for a total transaction of $73,500,484.00. Following the acquisition, the insider directly owned 115,021,527 shares of the company's stock, valued at $25,680,856,333.29. This represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 4,217,545 shares of company stock valued at $926,720,260. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RSG has been the subject of several recent analyst reports. UBS Group boosted their target price on Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Barclays raised their target price on shares of Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Citigroup lifted their target price on Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Argus cut Republic Services from a "buy" rating to a "hold" rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.26.

Republic Services Price Performance

Shares of NYSE RSG opened at $222.58 on Friday. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $233.77. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. The company's 50-day moving average price is $217.58 and its 200 day moving average price is $215.19. The stock has a market cap of $68.16 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.69 and a beta of 0.40.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.04. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The firm had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Republic Services's previous quarterly dividend of $0.62. Republic Services's dividend payout ratio is currently 37.96%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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