Republic Services, Inc. $RSG Shares Sold by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD lowered its stake in Republic Services, Inc. (NYSE:RSG) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,929 shares of the business services provider’s stock after selling 5,744 shares during the quarter. Republic Services comprises approximately 7.4% of Corbyn Investment Management Inc. MD’s holdings, making the stock its largest holding. Corbyn Investment Management Inc. MD’s holdings in Republic Services were worth $21,931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RSG. C WorldWide Group Holding A S bought a new position in Republic Services during the first quarter worth about $230,013,000. Nuveen LLC acquired a new stake in shares of Republic Services in the 1st quarter valued at approximately $198,685,000. M&G PLC boosted its stake in Republic Services by 113.0% during the 2nd quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock worth $287,670,000 after acquiring an additional 617,939 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Republic Services by 118.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after purchasing an additional 437,190 shares in the last quarter. Finally, National Pension Service raised its holdings in Republic Services by 112.0% in the second quarter. National Pension Service now owns 749,603 shares of the business services provider’s stock worth $184,860,000 after purchasing an additional 396,041 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider directly owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Republic Services Stock Up 1.4%

Shares of Republic Services stock opened at $206.99 on Wednesday. The firm has a market cap of $64.08 billion, a PE ratio of 30.62, a P/E/G ratio of 3.40 and a beta of 0.57. The business’s 50 day simple moving average is $221.73 and its 200 day simple moving average is $235.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, October 30th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.12. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. 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 fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s payout ratio is 37.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RSG shares. Barclays started coverage on shares of Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective for the company. BMO Capital Markets increased their price target on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. UBS Group cut their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Citigroup decreased their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Finally, Scotiabank dropped their target price on shares of Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.85.

About Republic Services

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.