Unisphere Establishment Purchases 8,000 Shares of Republic Services, Inc. $RSG

Key Points

• Unisphere Establishment has increased its stake in Republic Services, Inc. by 25.8% in the first quarter, bringing its total holdings to a value of $9.44 million.
• Several hedge funds have also significantly adjusted their positions in Republic Services, with Brighton Jones LLC increasing its holdings by 75.8% in the fourth quarter.
• Republic Services has announced a quarterly dividend increase to $0.625 per share, up from the previous $0.58, reflecting a positive outlook for the company's financial health.

Unisphere Establishment boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 25.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,000 shares of the business services provider's stock after buying an additional 8,000 shares during the quarter. Unisphere Establishment's holdings in Republic Services were worth $9,444,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. TCTC Holdings LLC grew its position in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Key Financial Inc grew its position in shares of Republic Services by 380.8% in the first 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 last quarter. Elequin Capital LP acquired a new stake in shares of Republic Services in the first quarter valued at about $30,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Republic Services in the first quarter valued at about $49,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RSG shares. JPMorgan Chase & Co. raised their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Scotiabank raised their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. BMO Capital Markets raised their price target on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 target price for the company in a research note on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Stock Performance

Shares of NYSE RSG traded down $4.38 during mid-day trading on Friday, hitting $229.47. The company had a trading volume of 1,086,708 shares, compared to its average volume of 956,763. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The business's 50-day simple moving average is $237.22 and its 200-day simple moving average is $241.13. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The firm has a market cap of $71.65 billion, a P/E ratio of 33.95, a PEG ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its 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. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. 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 paid 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 yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is 34.32%.

Insider Transactions at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

Republic Services Company 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.