Impax Asset Management Group plc Cuts Stake in Republic Services, Inc. $RSG

Impax Asset Management Group plc lowered its stake in Republic Services, Inc. (NYSE:RSG) by 6.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 676,392 shares of the business services provider’s stock after selling 43,005 shares during the quarter. Impax Asset Management Group plc owned about 0.22% of Republic Services worth $166,805,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. Cranbrook Wealth Management LLC lifted its position in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. TCTC Holdings LLC boosted its position in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Republic Services during the first quarter worth about $30,000. NewSquare Capital LLC lifted its stake in shares of Republic Services by 68.5% in the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in Republic Services during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $205.36 on Thursday. 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 firm has a market capitalization of $63.57 billion, a PE ratio of 30.38, a P/E/G ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a 1-year low of $199.43 and a 1-year high of $258.75. The business’s fifty day moving average price is $221.19 and its two-hundred day moving average price is $235.63.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on RSG. Scotiabank reduced their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Citigroup decreased their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. UBS Group lowered their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Finally, Barclays initiated coverage on Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.52.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction 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 sale, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business’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 completion of the purchase, the insider owned 109,816,832 shares of the company’s stock, 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 is available in the SEC filing. 0.11% of the stock is owned by company insiders.

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.