Ieq Capital LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,754 shares of the business services provider’s stock, valued at approximately $2,078,000.
Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Federated Hermes Inc. grew its position in Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after purchasing an additional 3,303 shares in the last quarter. NewEdge Advisors LLC increased its stake in Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock valued at $7,322,000 after buying 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% during the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after buying an additional 688 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Republic Services by 28.2% in the 2nd quarter. Quantinno Capital Management LP now owns 63,682 shares of the business services provider’s stock worth $15,705,000 after buying an additional 14,000 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.
Analyst Upgrades and Downgrades
RSG has been the subject of a number of research analyst reports. Citigroup increased their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays lifted their target price on Republic Services from $233.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price target 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, Morgan Stanley set a $232.00 price objective on shares of Republic Services in a report on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.26.
Insider Buying and Selling
In related news, major shareholder Cascade Investment, L.L.C. bought 261,664 shares of Republic Services stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $214.89 per share, with a total value of $56,228,976.96. Following the acquisition, the insider directly owned 111,065,646 shares of the company’s stock, valued at $23,866,896,668.94. This represents a 0.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 1,999,929 shares of company stock valued at $434,701,707. 0.12% of the stock is owned by company insiders.
Republic Services Stock Performance
Shares of RSG stock opened at $221.22 on Wednesday. The firm’s 50 day moving average is $215.50 and its 200 day moving average is $215.13. The stock has a market capitalization of $67.74 billion, a P/E ratio of 31.33, a PEG ratio of 3.70 and a beta of 0.40. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $235.18. 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 issued its earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.04. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 7.27 earnings per share for the current year.
Republic Services Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. Republic Services’s payout ratio is currently 35.41%.
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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