OFI Invest Asset Management Boosts Holdings in Republic Services, Inc. $RSG

OFI Invest Asset Management boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 14.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,463 shares of the business services provider’s stock after buying an additional 25,967 shares during the quarter. OFI Invest Asset Management’s holdings in Republic Services were worth $49,683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock worth $4,543,231,000 after buying an additional 170,548 shares during the period. Wellington Management Group LLP lifted its position in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock worth $1,438,237,000 after purchasing an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after purchasing an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock worth $695,541,000 after purchasing an additional 119,158 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Republic Services by 12.4% during the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock worth $494,930,000 after purchasing an additional 224,867 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price 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 in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RSG. Stifel Nicolaus began coverage on Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 target price for the company. Barclays assumed coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective for the company. Raymond James Financial set a $260.00 price objective on Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. National Bankshares decreased their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Finally, Oppenheimer decreased their price objective on Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.85.

Republic Services Price Performance

Shares of NYSE RSG opened at $225.16 on Friday. The business’s 50 day moving average price is $230.18 and its 200 day moving average price is $239.81. The firm has a market cap of $70.30 billion, a P/E ratio of 33.31, a P/E/G ratio of 3.64 and a beta of 0.59. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

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 analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Republic Services’s revenue for the quarter 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 expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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