8,469 Shares in Republic Services, Inc. $RSG Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,469 shares of the business services provider’s stock, valued at approximately $1,777,000.

Several other hedge funds have also added to or reduced their stakes in RSG. BlackRock Inc. acquired a new position in shares of Republic Services during the second quarter worth $3,798,092,000. State Street Corp raised its position in Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after purchasing an additional 160,051 shares during the last quarter. Bank of America Corp DE bought a new position in Republic Services during the 2nd quarter worth $682,573,000. Allspring Global Investments Holdings LLC lifted its holdings in Republic Services by 68.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock worth $497,828,000 after buying an additional 913,249 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Republic Services by 1.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,434 shares of the business services provider’s stock worth $454,379,000 after buying an additional 28,996 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. Canadian Imperial Bank of Commerce decreased their price target on Republic Services from $249.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Wolfe Research began coverage on Republic Services in a research note on Tuesday, September 15th. They issued a “peer perform” rating on the stock. Raymond James Financial set a $235.00 price objective on Republic Services in a research note on Friday, October 9th. Robert W. Baird increased their target price on shares of Republic Services from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, The Goldman Sachs Group lowered their price target on shares of Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $243.73.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the acquisition, the insider owned 116,166,330 shares of the company’s stock, valued at approximately $25,729,680,431.70. This represents a 0.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 6,254,462 shares of company stock valued at $1,380,321,958 over the last quarter. 0.12% of the stock is currently owned by insiders.

Republic Services Stock Performance

Shares of RSG opened at $240.21 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. The firm’s fifty day simple moving average is $220.57 and its two-hundred day simple moving average is $214.54. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $243.22. The stock has a market capitalization of $73.56 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.04. Republic Services had a return on equity of 18.69% and a net margin of 12.94%. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company posted $1.77 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, analysts predict that Republic Services, Inc. will post 7.26 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.6250. The ex-dividend date of this dividend was Friday, October 2nd. Republic Services’s payout ratio is presently 37.96%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.