Zurich Insurance Group Ltd FI Takes $22.08 Million Position in Republic Services, Inc. $RSG

Key Points

• Zurich Insurance Group Ltd FI acquired 91,173 shares of Republic Services, Inc., valuing approximately $22.08 million, marking a new position for the firm in the 1st quarter.
• Analysts have raised their price targets for Republic Services, with JPMorgan increasing it from $229.00 to $275.00 and BMO Capital Markets boosting it to $284.00, reflecting a generally positive outlook on the stock.
• Republic Services recently declared a quarterly dividend of $0.625 per share, up from the previous $0.58, indicating a commitment to returning value to shareholders.

Zurich Insurance Group Ltd FI bought a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 91,173 shares of the business services provider's stock, valued at approximately $22,078,000.

A number of other large investors have also recently made changes to their positions in RSG. Brighton Jones LLC lifted its position in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after acquiring an additional 8,547 shares during the period. Graham Capital Management L.P. lifted its position in Republic Services by 20.4% during the 4th quarter. Graham Capital Management L.P. now owns 3,900 shares of the business services provider's stock worth $785,000 after acquiring an additional 662 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Republic Services during the 4th quarter worth approximately $246,000. Janus Henderson Group PLC lifted its position in Republic Services by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 32,148 shares of the business services provider's stock worth $6,468,000 after acquiring an additional 217 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Republic Services by 6.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,904 shares of the business services provider's stock worth $20,300,000 after acquiring an additional 6,399 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

NYSE RSG traded down $3.75 during mid-day trading on Friday, hitting $228.46. The stock had a trading volume of 891,769 shares, compared to its average volume of 955,511. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The company has a market cap of $71.33 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 3.62 and a beta of 0.59. The company has a 50 day simple moving average of $235.93 and a 200 day simple moving average of $240.91. 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 released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the business posted $1.61 EPS. Republic Services'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 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. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio (DPR) is 34.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RSG shares. National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. UBS Group set a $260.00 price target on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, 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 through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the firm'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 of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Company 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.