Republic Services, Inc. $RSG Shares Sold by Board of the Pension Protection Fund

Key Points

• The Board of the Pension Protection Fund reduced its stake in Republic Services, Inc. by 50%, now holding 2,700 shares worth approximately $666,000.
• Republic Services declared a quarterly dividend of $0.625, reflecting a positive increase from the previous $0.58 dividend.
• Analysts currently have a consensus rating of "Moderate Buy" for Republic Services, with an average price target of $258.85.

Board of the Pension Protection Fund trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the business services provider's stock after selling 2,700 shares during the period. Board of the Pension Protection Fund's holdings in Republic Services were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Republic Services by 20.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,270 shares of the business services provider's stock worth $8,453,000 after purchasing an additional 5,857 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Republic Services by 18.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,550 shares of the business services provider's stock worth $3,835,000 after buying an additional 2,392 shares during the period. Apollon Wealth Management LLC increased its holdings in Republic Services by 6.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 11,664 shares of the business services provider's stock worth $2,877,000 after buying an additional 717 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Republic Services by 7.9% in the second quarter. Fifth Third Wealth Advisors LLC now owns 2,451 shares of the business services provider's stock worth $604,000 after acquiring an additional 180 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Republic Services in the second quarter worth $65,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 1.6%

Shares of RSG opened at $225.16 on Friday. 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 12 month low of $197.60 and a 12 month high of $258.75. The stock's 50 day moving average is $230.18 and its two-hundred day moving average is $239.81. The firm has a market cap of $70.30 billion, a P/E ratio of 33.31, a PEG ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the company earned $1.61 earnings per share. Republic Services's quarterly revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts predict that Republic Services, Inc. will post 6.86 earnings per share 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. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 36.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RSG shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Services in a research note on Wednesday. Stifel Nicolaus started coverage on Republic Services in a research report on Monday, September 29th. They set a "buy" rating and a $257.00 price target on the stock. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Barclays assumed coverage on Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price on the stock. Finally, Citigroup dropped their price objective on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target of $258.85.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated 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 sale, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, for a total transaction 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 disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

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.

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