Strs Ohio Takes $14.63 Million Position in Republic Services, Inc. $RSG

Key Points

• Strs Ohio has acquired a new position in Republic Services, Inc., purchasing 60,407 shares valued at approximately $14.63 million during the first quarter.
• Republic Services has increased its quarterly dividend from $0.58 to $0.625 per share, representing an annualized yield of 1.1%.
• Analysts have set a consensus price target of $262.17 for Republic Services, with a rating of "Moderate Buy" based on recent evaluations by multiple equity research firms.

Strs Ohio purchased a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 60,407 shares of the business services provider's stock, valued at approximately $14,628,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Republic Services by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after buying an additional 170,548 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Republic Services by 0.7% during the 1st 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 lifted its position 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 buying an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after acquiring an additional 119,158 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of 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 valued at $539,091,000 after purchasing an additional 2,220,487 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RSG. 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. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. BMO Capital Markets increased their price target on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Oppenheimer upped their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, National Bank Financial upgraded Republic Services to a "hold" rating in a report on Monday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Insider Buying and Selling

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction on 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 approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business'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 purchase, the insider owned 109,816,832 shares of the company's stock, 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 company insiders.

Republic Services Stock Down 0.1%

Republic Services stock traded down $0.21 during trading hours on Monday, hitting $228.27. 799,043 shares of the stock traded hands, compared to its average volume of 955,002. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a market cap of $71.27 billion, a PE ratio of 33.77, a PEG ratio of 3.56 and a beta of 0.59. The firm's 50-day moving average price is $235.65 and its two-hundred day moving average price is $240.97. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The firm'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. On average, research analysts forecast 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. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis 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%.

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.