Republic Services, Inc. $RSG Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,177 shares of the business services provider’s stock after purchasing an additional 77 shares during the quarter. OLD National Bancorp IN’s holdings in Republic Services were worth $1,030,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Merit Financial Group LLC increased its holdings in Republic Services by 9.7% in the 1st quarter. Merit Financial Group LLC now owns 2,976 shares of the business services provider’s stock valued at $721,000 after purchasing an additional 264 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Republic Services by 3.2% in the first quarter. Gateway Investment Advisers LLC now owns 3,642 shares of the business services provider’s stock valued at $882,000 after purchasing an additional 114 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Republic Services in the first quarter worth about $214,000. Finally, UMB Bank n.a. grew its stake in shares of Republic Services by 5.9% in the first quarter. UMB Bank n.a. now owns 2,008 shares of the business services provider’s stock valued at $486,000 after buying an additional 111 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG stock opened at $223.03 on Tuesday. The firm has a fifty day moving average of $231.08 and a two-hundred day moving average of $240.21. The firm has a market cap of $69.63 billion, a P/E ratio of 32.99, a P/E/G ratio of 3.50 and a beta of 0.59. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 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 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio is currently 36.98%.

Analyst Ratings Changes

Several research firms recently commented on RSG. Citigroup reduced their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a “hold” rating for the company. Raymond James Financial set a $260.00 price target on shares of Republic Services and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus started coverage on shares of Republic Services in a research report on Monday, September 29th. They issued a “buy” rating and a $257.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.58.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased 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 directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the 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 directly 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. Insiders own 0.11% of the company’s stock.

Republic Services Company 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.