Fifth Third Bancorp Trims Stake in Republic Services, Inc. $RSG

Fifth Third Bancorp trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 12.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,273 shares of the business services provider’s stock after selling 4,023 shares during the period. Fifth Third Bancorp’s holdings in Republic Services were worth $6,972,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RSG. GAMMA Investing LLC lifted its position in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after buying an additional 2,220,487 shares in the last quarter. C WorldWide Group Holding A S purchased a new stake in shares of Republic Services in the first quarter worth $230,013,000. Nuveen LLC purchased a new position in shares of Republic Services during the 1st quarter valued at $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Republic Services by 27.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock worth $427,009,000 after buying an additional 384,695 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Republic Services during the first quarter valued at about $63,910,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction that occurred on 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 completion of the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents 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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup decreased their target price on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 target price on the stock in a report on Monday, June 9th. Oppenheimer lifted their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Scotiabank increased 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. Finally, BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.58.

Republic Services Price Performance

RSG opened at $227.06 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $70.89 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 3.55 and a beta of 0.59. The business’s fifty day simple moving average is $233.35 and its 200-day simple moving average is $240.43. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75.

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

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 34.32%.

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.