Resolution Capital Ltd purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 3,643 shares of the business services provider's stock, valued at approximately $882,000.
A number of other institutional investors also recently modified their holdings of RSG. Vanguard Group Inc. lifted its holdings in shares of Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock valued at $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Wellington Management Group LLP lifted its stake in Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock valued at $1,438,237,000 after purchasing an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Republic Services by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after acquiring an additional 2,220,487 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on RSG shares. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. Finally, BMO Capital Markets lifted their price objective on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Two equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.
Get Our Latest Report on RSG
Insider Activity
In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction 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 represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Republic Services Stock Performance
Shares of Republic Services stock traded up $4.01 on Thursday, hitting $232.52. 1,180,811 shares of the company's stock were exchanged, compared to its average volume of 1,272,063. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a 50-day simple moving average of $236.36 and a 200-day simple moving average of $240.94. The stock has a market capitalization of $72.60 billion, a PE ratio of 34.40, a PEG ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the firm earned $1.61 EPS. The company's 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. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.
Republic Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 36.98%.
Republic Services Company Profile
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Free Report)
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.
Further Reading
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