Woodline Partners LP Grows Holdings in Republic Services, Inc. $RSG

Key Points

• Woodline Partners LP increased its holdings in Republic Services, Inc. by 2.4%, now owning 63,455 shares valued at approximately $15.37 million.
• Republic Services has announced a dividend increase to $0.625 per share, with the annualized yield now at 1.1%.
• The company reported quarterly earnings of $1.77 per share, exceeding expectations, with a year-over-year revenue growth of 4.6%.

Woodline Partners LP lifted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,455 shares of the business services provider's stock after buying an additional 1,471 shares during the quarter. Woodline Partners LP's holdings in Republic Services were worth $15,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RSG. Golden State Wealth Management LLC grew its position in shares of 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 worth $26,000 after buying an additional 106 shares during the period. Key Financial Inc grew its position in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the period. TCTC Holdings LLC grew its position in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the period. Elequin Capital LP purchased a new stake in shares of Republic Services in the 1st quarter worth about $30,000. Finally, Park Square Financial Group LLC purchased a new stake in Republic Services during the 4th quarter valued at about $44,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of NYSE:RSG opened at $228.39 on Thursday. The firm's 50 day moving average price is $236.36 and its 200-day moving average price is $240.94. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $71.31 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share 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 for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the business earned $1.61 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts expect 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. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. 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 yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's payout ratio is currently 34.32%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Scotiabank increased their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Melius assumed coverage on shares of Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. BMO Capital Markets increased their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Oppenheimer increased their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm's stock in a transaction 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 completion of the acquisition, the insider 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

About Republic Services

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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