Republic Services, Inc. $RSG Stake Cut by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH reduced its stake in Republic Services, Inc. by 16.9%, holding 46,840 shares worth approximately $11.19 million after the sale.
• Republic Services has increased its quarterly dividend to $0.625 per share, representing a 1.1% dividend yield and a boost from the previous dividend of $0.58.
• Analysts have set new price targets for Republic Services, with the average target price currently at $262.17, reflecting a consensus view of a "Moderate Buy" rating among analysts.

Erste Asset Management GmbH reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,840 shares of the business services provider's stock after selling 9,542 shares during the period. Erste Asset Management GmbH's holdings in Republic Services were worth $11,185,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RSG. GAMMA Investing LLC lifted its stake in Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. C WorldWide Group Holding A S purchased a new stake in Republic Services in the 1st quarter worth about $230,013,000. Nuveen LLC purchased a new stake in Republic Services in the 1st quarter worth about $198,685,000. Price T Rowe Associates Inc. MD raised its stake in shares of Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in shares of Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock worth $117,559,000 after purchasing an additional 368,395 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $236.0620 on Thursday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The firm's fifty day simple moving average is $240.78 and its 200 day simple moving average is $240.19. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $73.70 billion, a PE ratio of 34.92, a PEG ratio of 3.66 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the business posted $1.61 EPS. Republic Services's 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. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is 34.32%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RSG. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Raymond James Financial increased their target price on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Scotiabank raised their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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