Republic Services, Inc. $RSG Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio reduced its holdings in Republic Services by 3.2%, selling 2,966 shares and leaving them with 90,326 shares valued at approximately $22.3 million.
• Despite the reduction, other institutional investors, such as Brighton Jones LLC and GTS Securities LLC, increased their positions in Republic Services, indicating varied investor sentiment.
• Republic Services announced an increase in its quarterly dividend to $0.625, reflecting a positive adjustment from its previous dividend of $0.58, with a yield of 1.1%.

Public Employees Retirement System of Ohio reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,326 shares of the business services provider's stock after selling 2,966 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Republic Services were worth $22,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings 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 worth $3,988,000 after purchasing an additional 8,547 shares during the period. GTS Securities LLC raised its position in shares of Republic Services by 4.9% during the 4th quarter. GTS Securities LLC now owns 1,487 shares of the business services provider's stock worth $299,000 after buying an additional 69 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Republic Services by 4.2% in the fourth quarter. Integrated Advisors Network LLC now owns 1,571 shares of the business services provider's stock valued at $316,000 after acquiring an additional 63 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Republic Services during the fourth quarter valued at approximately $246,000. Finally, Park Square Financial Group LLC bought a new stake in Republic Services during the fourth quarter worth approximately $44,000. Institutional investors own 57.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RSG shares. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target for the company in a research note on Monday, June 9th. Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Citigroup cut their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Oppenheimer lifted their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Melius began coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $260.58.

Insider Buying and Selling at Republic Services

In other 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 stock was acquired at an average cost 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 approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $1,716,651.72. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Republic Services Trading Down 0.2%

Republic Services stock opened at $227.06 on Friday. The company has a 50 day moving average price of $233.35 and a 200 day moving average price of $240.43. The firm has a market capitalization of $70.89 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 3.55 and a beta of 0.59. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

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, 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 firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. Republic Services'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. Research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 34.32%.

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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