Perigon Wealth Management LLC bought a new stake in Republic Services, Inc. (NYSE:RSG – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,337 shares of the business services provider’s stock, valued at approximately $498,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in Republic Services by 1.7% during 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 buying an additional 166,474 shares during the last quarter. Capital World Investors raised its stake in shares of Republic Services by 27.7% during 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 acquiring an additional 1,899,183 shares during the last quarter. Morgan Stanley boosted its holdings in shares of 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 during the period. Wellington Management Group LLP grew its stake in shares of Republic Services by 18.9% in 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 purchasing an additional 807,525 shares during the last quarter. Finally, Norges Bank purchased a new position in Republic Services during the 4th quarter valued at about $617,165,000. 57.73% of the stock is currently owned by institutional investors.
Insider Transactions at Republic Services
In other news, major shareholder Cascade Investment, L.L.C. acquired 261,664 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $214.89 per share, with a total value of $56,228,976.96. Following the transaction, the insider owned 111,065,646 shares of the company’s stock, valued at $23,866,896,668.94. This trade represents a 0.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 1,220,674 shares of company stock worth $263,117,588. 0.12% of the stock is currently owned by company insiders.
Republic Services Price Performance
Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the company earned $1.77 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.
Republic Services Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. This is a boost from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is presently 35.41%.
Analysts Set New Price Targets
RSG has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Republic Services in a report on Friday, July 24th. UBS Group upped their target price on Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Morgan Stanley set a $232.00 price target on Republic Services in a research note on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $245.26.
Check Out Our Latest Report on RSG
Republic Services 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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