Maryland State Retirement & Pension System Purchases 251 Shares of Republic Services, Inc. $RSG

Maryland State Retirement & Pension System raised its position in Republic Services, Inc. (NYSE:RSG) by 2.6% in the 2nd quarter, Holdings Channel reports. The firm owned 9,846 shares of the business services provider’s stock after buying an additional 251 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Republic Services were worth $2,428,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after buying an additional 170,548 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Republic Services by 0.7% during the 1st 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 buying an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Republic Services by 0.3% during the 1st 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 buying an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after buying an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Republic Services by 12.4% during the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after buying an additional 224,867 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 1.6%

NYSE:RSG opened at $225.16 on Friday. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day simple moving average is $230.18 and its 200 day simple moving average is $239.80. The firm has a market capitalization of $70.30 billion, a P/E ratio of 33.31, a PEG ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Republic Services’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, analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s payout ratio is presently 36.98%.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the 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 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 disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RSG. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the company an “outperform” rating in a research report on Monday. National Bankshares lowered their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Stifel Nicolaus assumed coverage on shares of Republic Services in a research report on Monday, September 29th. They issued a “buy” rating and a $257.00 target price on the stock. Barclays assumed coverage on shares of Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price on the stock. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.85.

Republic Services Company Profile

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.