UniSuper Management Pty Ltd Acquires 23,424 Shares of Republic Services, Inc. $RSG

Key Points

• UniSuper Management Pty Ltd significantly increased its holdings in Republic Services, Inc. by acquiring 23,424 shares, boosting its ownership by 134.3% to a total of 40,869 shares valued at nearly $9.9 million.
• Several other investors also expanded their stakes in Republic Services, with institutional ownership now standing at 57.73% of the company's stock.
• Republic Services has announced an increase in its quarterly dividend to $0.625 per share, reflecting a positive change from its previous quarterly payment and offering a dividend yield of 1.1%.

UniSuper Management Pty Ltd grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 134.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,869 shares of the business services provider's stock after acquiring an additional 23,424 shares during the period. UniSuper Management Pty Ltd's holdings in Republic Services were worth $9,897,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC grew 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 acquiring an additional 106 shares in the last quarter. Key Financial Inc grew 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 acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC grew 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 acquiring an additional 66 shares in the last quarter. Elequin Capital LP bought a new stake in Republic Services in the first quarter worth approximately $30,000. Finally, Park Square Financial Group LLC bought a new stake in Republic Services in the fourth quarter worth approximately $44,000. 57.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent analyst reports. Melius initiated coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Raymond James Financial upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. BMO Capital Markets upped their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

Republic Services Price Performance

NYSE:RSG opened at $229.47 on Monday. The stock 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, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a fifty day moving average price of $237.22 and a 200 day moving average price of $241.13. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results 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. The firm 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 business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is currently 34.32%.

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.

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