Wellington Management Group LLP Purchases 42,019 Shares of Republic Services, Inc. $RSG

Key Points

• Wellington Management Group LLP has increased its holdings in Republic Services, Inc. by 0.7%, owning 5,939,202 shares worth approximately $1.44 billion as of its latest SEC filing.
• Republic Services declared a quarterly dividend of $0.625 per share, which will be paid on October 15th, reflecting a positive increase from its previous dividend of $0.58.
• The company reported earnings per share of $1.77 for the last quarter, slightly exceeding analyst expectations, with a revenue of $4.24 billion, marking a 4.6% increase year-over-year.

Wellington Management Group LLP increased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,939,202 shares of the business services provider's stock after buying an additional 42,019 shares during the quarter. Wellington Management Group LLP owned approximately 1.90% of Republic Services worth $1,438,237,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RSG. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% in the 1st 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 during the period. Key Financial Inc increased 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 worth $30,000 after purchasing an additional 99 shares during the period. TCTC Holdings LLC increased 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 worth $30,000 after purchasing an additional 66 shares during the period. Elequin Capital LP acquired a new stake in Republic Services in the first quarter valued at about $30,000. Finally, Park Square Financial Group LLC acquired a new stake in Republic Services in the fourth quarter valued at about $44,000. Institutional investors own 57.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RSG shares. Citigroup lifted their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley lifted their target price on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer lifted their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Two 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 company. Based on data from MarketBeat, 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 $1.3090 during trading on Friday, reaching $234.1310. 1,183,934 shares of the stock traded hands, compared to its average volume of 1,292,545. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. 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 company has a 50-day moving average of $240.45 and a 200-day moving average of $240.29. The stock has a market capitalization of $73.10 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly 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 firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business's revenue for the quarter 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. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company's stock.

Republic Services 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.