Republic Services, Inc. $RSG Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in Republic Services, Inc. (NYSE:RSG) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,436 shares of the business services provider’s stock after buying an additional 2,679 shares during the period. Rakuten Investment Management Inc.’s holdings in Republic Services were worth $7,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Republic Services in the 2nd quarter valued at about $3,798,092,000. State Street Corp lifted its stake in Republic Services by 1.6% in the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after purchasing an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Republic Services during the 2nd quarter worth approximately $682,573,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Republic Services by 68.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock worth $497,828,000 after purchasing an additional 913,249 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Republic Services by 1.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,434 shares of the business services provider’s stock valued at $454,379,000 after purchasing an additional 28,996 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 1.5%

Shares of NYSE RSG opened at $249.16 on Friday. The company has a market capitalization of $75.91 billion, a P/E ratio of 34.46, a P/E/G ratio of 4.08 and a beta of 0.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.64. The company has a 50 day simple moving average of $224.40 and a 200-day simple moving average of $217.51. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $254.39.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, January 4th. Republic Services’s dividend payout ratio is 37.07%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RSG. Robert W. Baird increased their price target on Republic Services from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Canadian Imperial Bank of Commerce lowered their price objective on Republic Services from $249.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. BMO Capital Markets set a $244.00 target price on Republic Services in a report on Thursday, October 15th. Oppenheimer reaffirmed an “outperform” rating on shares of Republic Services in a research note on Friday, October 30th. Finally, Raymond James Financial set a $235.00 price target on Republic Services in a report on Friday, October 9th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.32.

Key Headlines Impacting Republic Services

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Citigroup raised its price target to $281 from $259 and reiterated a Buy rating, suggesting it sees further upside. Barclays was also reported as forecasting strong price appreciation. Citigroup analyst coverage Barclays analyst coverage
• Positive Sentiment: A recent commentary highlighted the appeal of steady, predictable businesses during market volatility—a profile that may benefit Republic Services’ recurring waste-collection and disposal services. Commentary on defensive stocks
• Neutral Sentiment: Recent quarterly results offer business fundamentals: revenue rose 8.2% year over year to $4.56 billion, above estimates, while earnings per share of $1.94 narrowly beat consensus. These results were reported before the current news window. Republic Services company and trading information
• Negative Sentiment: EVP Brian Bales sold 3,400 shares for $829,600, reducing his holdings by 16.18%. He still owns 17,616 shares, so the sale may be a limited negative signal rather than clear evidence of a change in company outlook. Report on insider stock sale

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the acquisition, the insider owned 116,166,330 shares in the company, valued at $25,729,680,431.70. This trade represents a 0.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 6,254,462 shares of company stock worth $1,380,321,958. Corporate insiders own 0.12% of the company’s stock.

About Republic Services

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.