Virtu Financial LLC Invests $304,000 in Republic Services, Inc. $RSG

Key Points

• Virtu Financial LLC has acquired 1,256 shares of Republic Services, Inc., valued at approximately $304,000, during the first quarter.
• Republic Services recently announced an increase in its quarterly dividend from $0.58 to $0.625, payable on October 15th.
• Analyst ratings indicate a favorable outlook for Republic Services, with an average target price of $262.17 and most analysts rating it as a "Moderate Buy."

Virtu Financial LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,256 shares of the business services provider's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of 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 valued at $26,000 after acquiring an additional 106 shares in the last quarter. Key Financial Inc lifted 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 acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC lifted 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 acquiring an additional 66 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at $44,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Republic Services in the first quarter valued at $49,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.3%

RSG traded down $0.7080 on Thursday, reaching $235.4020. The company's stock had a trading volume of 706,771 shares, compared to its average volume of 1,381,469. 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 moving average is $240.45 and its 200 day moving average is $240.29. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The stock has a market cap of $73.50 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60.

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, topping analysts' consensus estimates 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 the consensus estimate of $4.26 billion. During the same quarter last year, the business posted $1.61 EPS. Republic Services'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. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. This is a positive change from Republic Services's previous quarterly dividend of $0.58. 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%. Republic Services's dividend payout ratio (DPR) is 34.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. Scotiabank upped their price objective 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. Morgan Stanley increased their target price on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Citigroup increased their target price on Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate 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.