US Bancorp DE Sells 7,766 Shares of Republic Services, Inc. $RSG

Key Points

• US Bancorp DE has reduced its stake in Republic Services, Inc. by 4.8%, selling 7,766 shares and now holding 153,659 shares valued at approximately $37.9 million.
• The company announced a quarterly dividend of $0.625 per share, reflecting a positive increase from the previous $0.58 dividend.
• Republic Services currently holds a consensus rating of "Moderate Buy" with a price target of $258.85 among analysts.

US Bancorp DE decreased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,659 shares of the business services provider's stock after selling 7,766 shares during the period. US Bancorp DE's holdings in Republic Services were worth $37,894,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ignite Planners LLC increased its holdings in shares of Republic Services by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider's stock worth $376,000 after buying an additional 43 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the last quarter. Gries Financial LLC increased its holdings in shares of Republic Services by 3.8% in the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider's stock worth $308,000 after buying an additional 46 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Republic Services by 17.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider's stock worth $75,000 after buying an additional 46 shares during the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Republic Services by 6.2% during the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the topic of several recent research reports. Citigroup reduced their target price on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Scotiabank set a $250.00 target price on shares of Republic Services in a report on Friday. Stifel Nicolaus initiated coverage on shares of Republic Services in a report on Monday, September 29th. They set a "buy" rating and a $257.00 target price on the stock. BMO Capital Markets increased their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Barclays initiated coverage on shares of Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.85.

Republic Services Trading Up 1.6%

NYSE:RSG opened at $225.16 on Friday. The company has a 50-day moving average price of $230.18 and a 200-day moving average price of $239.80. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month 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 stock has a market cap of $70.30 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.26 billion. During the same period last year, the company posted $1.61 EPS. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced 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 annualized dividend 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 36.98%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents 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 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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