Republic Services, Inc. $RSG Shares Sold by Sandler Capital Management

Key Points

• Sandler Capital Management reduced its stake in Republic Services, Inc. by 74.4%, holding 6,512 shares valued at $1,577,000 after selling 18,903 shares in the first quarter.
• Republic Services recently announced a quarterly dividend increase of $0.625 per share, reflecting a positive change from the previous quarterly dividend of $0.58.
• The company's shares opened at $229.47 on Friday, with a 12-month price range between $197.60 and $258.75.

Sandler Capital Management lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 74.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,512 shares of the business services provider's stock after selling 18,903 shares during the quarter. Sandler Capital Management's holdings in Republic Services were worth $1,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC raised its holdings in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc boosted its holdings in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new stake in Republic Services in the 1st quarter worth $30,000. Finally, Park Square Financial Group LLC bought a new position in Republic Services in the fourth quarter worth $44,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RSG shares. Scotiabank raised their target price on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Raymond James Financial raised their target price on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Melius assumed coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Performance

RSG traded down $0.68 during trading on Wednesday, reaching $228.39. 1,105,520 shares of the company's stock were exchanged, compared to its average volume of 991,401. The business has a 50 day moving average price of $236.54 and a 200 day moving average price of $241.03. The company has a quick ratio of 0.66, a current 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 company has a market capitalization of $71.31 billion, a P/E ratio of 33.79, a PEG ratio of 3.57 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, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 34.32%.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought 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. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following 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 disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Republic Services 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.