Corundum Group Inc. Sells 224 Shares of Republic Services, Inc. $RSG

Corundum Group Inc. decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,683 shares of the business services provider’s stock after selling 224 shares during the quarter. Corundum Group Inc.’s holdings in Republic Services were worth $415,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.9% in 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 stake in shares of Republic Services by 0.7% in 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 stake in shares of Republic Services by 0.3% in 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 stake in shares of Republic Services by 4.3% in 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 stake in shares of Republic Services by 12.4% in 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. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Citigroup lowered their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Scotiabank upped their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Friday, July 18th. BMO Capital Markets upped their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Saturday, September 27th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.58.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 $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 company insiders.

Republic Services Trading Up 0.7%

RSG opened at $224.14 on Friday. 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 has a market cap of $69.98 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The firm has a 50 day simple moving average of $231.45 and a 200 day simple moving average of $240.20. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating 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 firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business’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. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a $0.625 dividend. 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. The ex-dividend date is Thursday, October 2nd. Republic Services’s dividend payout ratio is currently 36.98%.

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.