Corbyn Investment Management Inc. MD Sells 5,744 Shares of Republic Services, Inc. $RSG

Corbyn Investment Management Inc. MD trimmed its position in Republic Services, Inc. (NYSE:RSG) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 88,929 shares of the business services provider’s stock after selling 5,744 shares during the quarter. Republic Services makes up 7.4% of Corbyn Investment Management Inc. MD’s holdings, making the stock its largest position. Corbyn Investment Management Inc. MD’s holdings in Republic Services were worth $21,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RSG. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 170,548 shares during the last quarter. Wellington Management Group LLP raised its stake in Republic Services by 0.7% in the 1st 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 lifted its holdings in Republic Services by 0.3% during the 1st 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 purchasing an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock worth $695,541,000 after purchasing an additional 119,158 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of 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 purchasing an additional 224,867 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RSG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. Citigroup cut their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a research report on Friday, October 31st. BMO Capital Markets increased their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $248.00 price target on Republic Services and gave the company a “buy” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $253.85.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business’s stock in a transaction dated 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 acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction 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 trade represents a 64.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company’s stock.

Republic Services Stock Up 1.4%

NYSE RSG opened at $206.99 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market cap of $64.08 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 3.40 and a beta of 0.57. The company has a 50 day moving average of $221.73 and a 200-day moving average of $235.85. Republic Services, Inc. has a 1-year low of $199.43 and a 1-year high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.81 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is 37.20%.

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.