EP Wealth Advisors LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 81,132 shares of the business services provider’s stock, valued at approximately $17,288,000.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Republic Services during the 2nd quarter worth approximately $3,798,092,000. Norges Bank purchased a new position in shares of Republic Services in the 4th quarter worth approximately $617,165,000. Capital World Investors grew its holdings in shares of 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 acquiring an additional 1,899,183 shares in the last quarter. Morgan Stanley increased its position 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 valued at $1,133,509,000 after acquiring an additional 1,490,719 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Republic Services during the second quarter worth $236,628,000. 57.73% of the stock is owned by institutional investors.
Insider Transactions at Republic Services
In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the 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 completion of the transaction, the director owned 58 shares in the company, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 261,664 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $214.89 per share, for a total transaction of $56,228,976.96. Following the transaction, the insider owned 111,065,646 shares of the company’s stock, valued at approximately $23,866,896,668.94. This trade represents a 0.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 1,599,643 shares of company stock valued at $346,519,404 in the last quarter. Company insiders own 0.12% of the company’s stock.
Republic Services Stock Performance
Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.04. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current year.
Republic Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.2%. This is a boost from Republic Services’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, October 2nd. Republic Services’s payout ratio is currently 35.41%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RSG. Citigroup upped 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. Morgan Stanley set a $232.00 target price on Republic Services in a research note on Friday, August 7th. UBS Group increased their price target on shares of Republic Services from $233.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Barclays lifted their price objective on shares of Republic Services from $233.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.26.
Read Our Latest Analysis on Republic Services
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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