Erste Asset Management GmbH Sells 9,542 Shares of Republic Services, Inc. $RSG

Erste Asset Management GmbH reduced its stake in Republic Services, Inc. (NYSE:RSG) by 16.9% during the 1st quarter, HoldingsChannel reports. The firm owned 46,840 shares of the business services provider’s stock after selling 9,542 shares during the quarter. Erste Asset Management GmbH’s holdings in Republic Services were worth $11,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RSG. Golden State Wealth Management LLC grew its position in Republic Services by 3,533.3% in the first 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 grew its holdings 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 purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC increased its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Elequin Capital LP bought a new position in Republic Services during the 1st quarter valued at about $30,000. Finally, Park Square Financial Group LLC acquired a new position in Republic Services in the fourth quarter valued at about $44,000. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RSG shares. Melius Research upgraded shares of Republic Services to a “hold” rating and set a $281.00 target price for the company in a research note on Monday, June 9th. Citigroup raised their price target on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, April 25th. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley lifted their price target on Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.17.

Republic Services Stock Up 0.5%

Shares of RSG opened at $236.0620 on Thursday. The business’s fifty day moving average price is $240.78 and its two-hundred day moving average price is $240.19. The firm has a market capitalization of $73.70 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.66 and a beta of 0.60. 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 quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 earnings per share. 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 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is a boost 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%. Republic Services’s payout ratio is 34.32%.

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.