6,980 Shares in Republic Services, Inc. $RSG Purchased by Mirabaud & Cie SA

Mirabaud & Cie SA acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 6,980 shares of the business services provider’s stock, valued at approximately $1,721,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock worth $4,543,231,000 after purchasing an additional 170,548 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after acquiring an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock valued at $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after acquiring an additional 119,158 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RSG. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Scotiabank lifted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Friday, July 18th. National Bank Financial upgraded shares of Republic Services to a “hold” rating in a report on Monday, May 26th. Finally, Melius Research upgraded shares of Republic Services to a “hold” rating and set a $281.00 price objective for the company in a report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $262.17.

Republic Services Stock Down 1.6%

Shares of Republic Services stock opened at $228.46 on Monday. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The company has a 50 day moving average of $235.93 and a 200 day moving average of $241.03. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $71.33 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.56 and a beta of 0.59.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is presently 34.32%.

Insider Activity at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.