EFG International AG purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,042 shares of the business services provider’s stock, valued at approximately $1,074,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Republic Services during the 2nd quarter worth approximately $3,798,092,000. State Street Corp increased its holdings in Republic Services by 1.7% in the 4th quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after purchasing an additional 166,474 shares during the last quarter. Capital World Investors raised its position in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley lifted its stake in Republic Services by 38.6% during the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock worth $1,074,513,000 after buying an additional 807,525 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Royal Bank Of Canada lifted their target price on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a research note on Friday, August 7th. Finally, Citigroup upped their target price on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.26.
Insider Buying and Selling
In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 301,639 shares of the business’s stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $222.91 per share, for a total transaction of $67,238,349.49. Following the completion of the purchase, the insider directly owned 113,105,550 shares in the company, valued at approximately $25,212,358,150.50. This represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 2,571,045 shares of company stock valued at $561,731,613 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.
Republic Services Stock Up 0.5%
RSG stock opened at $221.96 on Thursday. The company’s 50 day moving average price is $215.79 and its 200 day moving average price is $215.15. The firm has a market capitalization of $67.97 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 3.66 and a beta of 0.40. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $235.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64.
Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.04. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The firm’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. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.
Republic Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is presently 35.41%.
Republic Services Company Profile
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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