Liberty One Investment Management LLC grew its stake in Republic Services, Inc. (NYSE:RSG – Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,957 shares of the business services provider’s stock after purchasing an additional 9,438 shares during the quarter. Republic Services makes up 2.1% of Liberty One Investment Management LLC’s holdings, making the stock its 20th biggest position. Liberty One Investment Management LLC’s holdings in Republic Services were worth $20,579,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after buying an additional 8,547 shares in the last quarter. Federated Hermes Inc. increased its stake in Republic Services by 23.2% during the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after buying an additional 3,303 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after acquiring an additional 1,044 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Republic Services by 0.7% in the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock valued at $23,336,000 after acquiring an additional 688 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Republic Services by 68.4% in the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after acquiring an additional 4,729 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.
Insider Activity
In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider owned 110,315,982 shares in the company, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. The trade was a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by insiders.
Republic Services Stock Up 0.3%
Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. Republic Services’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. As a group, equities analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current year.
Republic Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, July 2nd. Republic Services’s payout ratio is 35.87%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Citigroup increased their price objective on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.89.
Get Our Latest Stock Report on RSG
About Republic Services
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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