Republic Services, Inc. $RSG Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has reduced its stake in Republic Services, Inc. by 16.4%, selling 2,144 shares, and now owns a total of 10,921 shares worth approximately $2,645,000.
• Republic Services recently announced an increase in its quarterly dividend to $0.625 per share, representing a 1.1% yield and a positive change from the previous dividend of $0.58.
• The company reported $1.77 EPS for the last quarter, surpassing analysts' estimates, and anticipates a full-year EPS of around 6.86.

Voleon Capital Management LP trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,921 shares of the business services provider's stock after selling 2,144 shares during the quarter. Voleon Capital Management LP's holdings in Republic Services were worth $2,645,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after buying an additional 44 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after buying an additional 46 shares during the period. Elevation Point Wealth Partners LLC lifted 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 valued at $279,000 after buying an additional 46 shares during the period. Hemington Wealth Management lifted its holdings in shares of Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after buying an additional 47 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in shares of Republic Services by 9.3% in the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after buying an additional 51 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of several analyst reports. BMO Capital Markets boosted their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer upped their price target on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Republic Services Price Performance

Shares of Republic Services stock traded down $3.75 during mid-day trading on Friday, reaching $228.46. 891,769 shares of the stock traded hands, compared to its average volume of 1,269,885. The business has a 50-day moving average of $236.19 and a 200 day moving average of $240.94. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The stock has a market capitalization of $71.33 billion, a PE ratio of 33.80, a PEG ratio of 3.57 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating 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 business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business's 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. On average, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase 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%. Republic Services's payout ratio is currently 34.32%.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is 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.