Caisse DE Depot ET Placement DU Quebec Has $236.87 Million Position in Republic Services, Inc. $RSG

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Republic Services by 16.8%, now holding 978,135 shares valued at approximately $236.87 million.
• Republic Services is set to increase its quarterly dividend from $0.58 to $0.625, with an annualized dividend yield of 1.1%.
• Brokerage firms have generally rated Republic Services positively, with a consensus price target of $262.17, signaling a moderate buy sentiment.

Caisse DE Depot ET Placement DU Quebec decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 978,135 shares of the business services provider's stock after selling 197,183 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.31% of Republic Services worth $236,865,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the period. MML Investors Services LLC lifted its stake in Republic Services by 1.6% in the fourth quarter. MML Investors Services LLC now owns 19,405 shares of the business services provider's stock valued at $3,904,000 after buying an additional 314 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Republic Services by 11.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 5,439 shares of the business services provider's stock valued at $1,094,000 after buying an additional 569 shares during the period. Coldstream Capital Management Inc. lifted its stake in Republic Services by 54.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,119 shares of the business services provider's stock valued at $1,030,000 after buying an additional 1,799 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Republic Services in the fourth quarter valued at about $7,917,000. Institutional investors own 57.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RSG. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Two equities research 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. Based on data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Up 0.5%

Shares of NYSE:RSG traded up $1.13 during trading on Friday, hitting $234.23. 875,330 shares of the company were exchanged, compared to its average volume of 1,282,436. 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 fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm has a fifty day moving average price of $238.94 and a two-hundred day moving average price of $240.73. The stock has a market cap of $73.13 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 3.67 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the company posted $1.61 EPS. The firm's revenue for the quarter 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. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 34.32%.

Insider Activity at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value 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 $949,796.40. The trade was a 64.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services 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 completion of the purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

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.