Republic Services, Inc. $RSG Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Republic Services, Inc. by 20.3%, now holding 15,159 shares valued at approximately $3.67 million.
• Republic Services announced an increase in its quarterly dividend to $0.625, with an ex-dividend date of October 2nd, reflecting a yield of 1.1%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Republic Services, with a target price averaging $262.17.

Rafferty Asset Management LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,159 shares of the business services provider's stock after selling 3,859 shares during the period. Rafferty Asset Management LLC's holdings in Republic Services were worth $3,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of RSG. Brooks Moore & Associates Inc. acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $218,000. Synovus Financial Corp boosted its holdings in Republic Services by 5.4% during the first quarter. Synovus Financial Corp now owns 16,031 shares of the business services provider's stock worth $3,882,000 after buying an additional 824 shares in the last quarter. ICONIQ Capital LLC grew its position in Republic Services by 20.7% during the first quarter. ICONIQ Capital LLC now owns 1,508 shares of the business services provider's stock valued at $365,000 after buying an additional 259 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Republic Services by 2.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 34,445 shares of the business services provider's stock valued at $8,341,000 after buying an additional 842 shares in the last quarter. Finally, Allstate Corp raised its position in shares of Republic Services by 112.6% in the first quarter. Allstate Corp now owns 14,063 shares of the business services provider's stock worth $3,405,000 after acquiring an additional 7,447 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

NYSE RSG traded up $2.41 during mid-day trading on Thursday, hitting $234.90. The stock had a trading volume of 120,292 shares, compared to its average volume of 1,270,797. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm's 50 day moving average is $237.74 and its 200 day moving average is $240.95. The stock has a market capitalization of $73.34 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 3.65 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts forecast 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 issued 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 payout ratio is presently 34.32%.

Insider Buying and Selling

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm'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 of the company's stock, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RSG. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target for the company in a research note on Monday, June 9th. Scotiabank raised their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. BMO Capital Markets upped their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. Finally, National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

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.