Republic Services, Inc. $RSG Stock Position Increased by Partners Group Holding AG

Partners Group Holding AG increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,806 shares of the business services provider’s stock after buying an additional 16,227 shares during the period. Republic Services accounts for 3.0% of Partners Group Holding AG’s holdings, making the stock its 9th biggest position. Partners Group Holding AG’s holdings in Republic Services were worth $44,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ICONIQ Capital LLC boosted its holdings in Republic Services by 3.3% during the second quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock worth $384,000 after buying an additional 50 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in Republic Services by 1.1% during the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock worth $1,094,000 after buying an additional 51 shares in the last quarter. Composition Wealth LLC boosted its holdings in Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock worth $804,000 after buying an additional 52 shares in the last quarter. AAFMAA Wealth Management & Trust LLC boosted its holdings in Republic Services by 0.9% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock worth $1,393,000 after buying an additional 54 shares in the last quarter. Finally, Florida Trust Wealth Management Co boosted its holdings in Republic Services by 5.4% during the third quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock worth $241,000 after buying an additional 54 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the transaction, the insider directly owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 987,150 shares of company stock valued at $202,366,682 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RSG shares. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. BMO Capital Markets reduced their price objective on shares of Republic Services from $251.00 to $248.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada upped their price objective on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Citigroup reduced their price objective on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $245.15.

Key Headlines Impacting Republic Services

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

• Positive Sentiment: Cascade Investment made several large open-market purchases of Republic Services shares over the past few trading sessions, including 307,505 shares, 119,795 shares, and 60,700 shares, signaling strong insider confidence in the company’s outlook.
• Positive Sentiment: The company recently beat first-quarter earnings and revenue estimates, with EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion versus $4.10 billion projected, supporting investor sentiment.
• Neutral Sentiment: Republic Services also declared a quarterly dividend of $0.625 per share, which reinforces its income profile but is not likely the main driver of the stock today.
• Neutral Sentiment: Wall Street remains mixed, with a consensus Hold rating and an average price target of $245.15, suggesting analysts see limited near-term upside but no major deterioration in the business.

Republic Services Price Performance

Shares of NYSE RSG opened at $214.94 on Wednesday. The firm has a 50-day simple moving average of $214.00 and a 200-day simple moving average of $214.86. The stock has a market capitalization of $66.13 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $258.75.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share. On average, equities analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is 36.15%.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.