AustralianSuper Pty Ltd Makes New Investment in Republic Services, Inc. $RSG

AustralianSuper Pty Ltd bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 289,087 shares of the business services provider’s stock, valued at approximately $71,292,000.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Capital Management Associates Inc bought a new position in shares of Republic Services during the 1st quarter worth approximately $314,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock worth $136,397,000 after buying an additional 4,110 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock worth $2,226,000 after buying an additional 3,503 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Republic Services by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock worth $116,048,000 after buying an additional 43,387 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Oppenheimer lowered their price target on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Saturday. BMO Capital Markets lifted their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus assumed coverage on shares of Republic Services in a report on Monday, September 29th. They issued a “buy” rating and a $257.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $257.10.

Republic Services Stock Up 0.0%

Republic Services stock opened at $223.16 on Monday. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The firm has a market capitalization of $69.68 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 3.60 and a beta of 0.59. 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 firm has a 50 day simple moving average of $227.75 and a 200 day simple moving average of $238.69.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating 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 business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business earned $1.61 EPS. Republic Services’s revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s payout ratio is currently 36.98%.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Republic Services 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.