The Manufacturers Life Insurance Company decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 105,458 shares of the business services provider’s stock after selling 2,797 shares during the period. The Manufacturers Life Insurance Company’s holdings in Republic Services were worth $22,471,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in Republic Services by 32.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 7,716 shares of the business services provider’s stock worth $1,644,000 after acquiring an additional 1,878 shares during the period. Nykredit A S acquired a new position in shares of Republic Services in the 2nd quarter valued at $24,534,000. Corient Private Wealth LP boosted its position in shares of Republic Services by 39.0% in the 2nd quarter. Corient Private Wealth LP now owns 153,096 shares of the business services provider’s stock worth $32,622,000 after purchasing an additional 42,943 shares during the last quarter. Schulz Wealth LTD. acquired a new stake in shares of Republic Services during the second quarter worth $279,000. Finally, Groupe la Francaise increased its holdings in Republic Services by 17.8% in the second quarter. Groupe la Francaise now owns 71,736 shares of the business services provider’s stock valued at $15,291,000 after purchasing an additional 10,853 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have weighed in on RSG. Barclays increased their target price on Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Citigroup upped their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a research note on Friday, August 7th. Finally, UBS Group upped their target price on shares of Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.26.
Republic Services Stock Up 0.9%
NYSE:RSG opened at $222.96 on Friday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $233.42. The stock has a 50-day moving average price of $218.26 and a two-hundred day moving average price of $215.25. The stock has a market cap of $68.27 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 3.69 and a beta of 0.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12.
Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.04. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Republic Services’s revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, equities analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current year.
Republic Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a $0.67 dividend. The ex-dividend date of this dividend 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 yield of 1.2%. Republic Services’s payout ratio is presently 35.41%.
Insider Buying and Selling at Republic Services
In related news, major shareholder Cascade Investment, L.L.C. acquired 409,500 shares of the stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the transaction, the insider directly owned 116,166,330 shares of the company’s stock, valued at approximately $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 5,673,652 shares of company stock valued at $1,251,016,257 in the last ninety days. 0.12% of the stock is owned by corporate insiders.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, offering scheduled and on-demand waste pickup, roll-off containers, transfer-station services and landfill disposal.
Its recycling and environmental services include the collection and processing of recyclable materials, organics management, waste reduction programs and related sustainability solutions.
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