UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $427.01 Million Position in Republic Services, Inc. $RSG

Key Points

• UBS AM increased its stake in Republic Services by 27.9%, acquiring an additional 384,695 shares, bringing its total ownership to over 1.7 million shares valued at approximately $427 million.
• Republic Services announced a quarterly dividend increase to $0.625, with a scheduled payment date of October 15th, representing a 1.1% yield.
• Several analysts have adjusted their target prices for Republic Services, with Scotiabank raising it to $260 and multiple firms rating the stock with a consensus of Moderate Buy.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,763,333 shares of the business services provider's stock after buying an additional 384,695 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.56% of Republic Services worth $427,009,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RSG. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% in the first 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 in the last quarter. TCTC Holdings LLC raised its position in Republic Services by 113.8% in 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 in the last quarter. Key Financial Inc raised its position in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares in the last quarter. Elequin Capital LP acquired a new position in Republic Services in the first quarter worth about $30,000. Finally, Cheviot Value Management LLC acquired a new position in Republic Services in the first quarter worth about $49,000. Institutional investors own 57.73% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired 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 directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,716,651.72. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

Republic Services Price Performance

Shares of RSG traded down $3.75 during mid-day trading on Friday, hitting $228.46. 891,769 shares of the company traded hands, compared to its average volume of 955,511. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average of $235.93 and a 200 day moving average of $240.91. The stock has a market capitalization of $71.33 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.62 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $4.26 billion. During the same period last year, the firm earned $1.61 earnings per share. The business's revenue for the quarter 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 expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company 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 dividend of $0.625 per share. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is 34.32%.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius initiated coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Finally, Oppenheimer raised their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

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.