Republic Services, Inc. $RSG Shares Acquired by USA Financial Formulas

USA Financial Formulas raised its stake in Republic Services, Inc. (NYSE:RSG) by 107.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,885 shares of the business services provider’s stock after acquiring an additional 2,532 shares during the period. USA Financial Formulas’ holdings in Republic Services were worth $1,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after acquiring an additional 170,548 shares during the period. Wellington Management Group LLP boosted its stake in Republic Services by 0.7% in the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after acquiring an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Republic Services by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock valued at $1,292,050,000 after acquiring an additional 17,711 shares during the period. JPMorgan Chase & Co. boosted its stake in Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after acquiring an additional 119,158 shares during the period. Finally, TD Asset Management Inc boosted its stake in Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after acquiring an additional 224,867 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 analyst reports. Barclays initiated coverage on Republic Services in a research report on Friday, September 19th. They set an “equal weight” rating and a $240.00 price objective for the company. UBS Group set a $260.00 price objective on Republic Services and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Scotiabank boosted their price objective on Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday, July 18th. Citigroup reduced their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Finally, Stifel Nicolaus initiated coverage on Republic Services in a research report on Monday. They set a “buy” rating and a $257.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $260.58.

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 shares were bought at an average price 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 approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $227.28 on Thursday. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The stock has a market cap of $70.96 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 3.58 and a beta of 0.59. The stock’s 50 day moving average price is $232.32 and its 200 day moving average price is $240.36. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. The firm’s quarterly revenue 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. Equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal 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 issued 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 is presently 34.32%.

Republic Services Company 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.