Republic Services, Inc. $RSG Stock Position Lifted by Partners Group Holding AG

Key Points

• Partners Group Holding AG increased its Republic Services stake by 8.3% in the fourth quarter, bringing its holdings to 210,806 shares worth about $44.7 million.
• Republic Services recently beat first-quarter earnings and revenue estimates, posting EPS of $1.70 on revenue of $4.11 billion, both slightly ahead of expectations.
• The company also announced a quarterly dividend of $0.625 per share, while Wall Street remains cautious overall with a consensus Hold rating and average price target of $245.15.

Partners Group Holding AG lifted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,806 shares of the business services provider's stock after buying an additional 16,227 shares during the period. Republic Services makes up about 3.0% of Partners Group Holding AG's portfolio, making the stock its 9th largest position. Partners Group Holding AG owned approximately 0.07% of Republic Services worth $44,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in shares of Republic Services in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Republic Services by 121.8% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider's stock worth $28,000 after buying an additional 67 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Republic Services in the 3rd quarter worth approximately $29,000. Finally, Sound Income Strategies LLC purchased a new stake in Republic Services during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Trending Headlines about Republic Services

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Wall Street Analyst Weigh In

Several research firms have weighed in on RSG. Morgan Stanley dropped their target price on shares of Republic Services from $230.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 18th. Wells Fargo & Company boosted their target price on shares of Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. Wolfe Research began coverage on shares of Republic Services in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. UBS Group dropped their target price on shares of Republic Services from $240.00 to $223.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of "Hold" and a consensus price target of $245.15.

Republic Services Stock Up 0.2%

RSG stock opened at $214.94 on Wednesday. The firm's fifty day simple moving average is $214.00 and its 200-day simple moving average is $214.86. The company has a market capitalization of $66.13 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Republic Services's dividend payout ratio is 36.15%.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the company's stock in a transaction dated Monday, May 18th. The shares were acquired at an average cost of $213.31 per share, with a total value of $12,947,917.00. Following the acquisition, the insider directly owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is owned by corporate insiders.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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