Republic Services, Inc. $RSG Stake Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Republic Services, Inc. (NYSE:RSG) by 18.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,036 shares of the business services provider’s stock after selling 2,977 shares during the period. Illinois Municipal Retirement Fund’s holdings in Republic Services were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC increased its holdings in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the period. TCTC Holdings LLC boosted its stake in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the period. Elequin Capital LP bought a new position in Republic Services in the 1st quarter worth about $30,000. NewSquare Capital LLC increased 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 valued at $30,000 after purchasing an additional 50 shares during the period. Finally, Atticus Wealth Management LLC acquired a new position in shares of Republic Services during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In related news, 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business’s stock in a transaction 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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several recent analyst reports. Robert W. Baird set a $240.00 target price on Republic Services in a research note on Friday, October 31st. Scotiabank lowered their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Barclays assumed coverage on shares of Republic Services in a research note on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.52.

Republic Services Price Performance

Shares of Republic Services stock opened at $205.36 on Thursday. Republic Services, Inc. has a 52 week low of $199.43 and a 52 week high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market cap of $63.57 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57. The company’s 50-day moving average price is $221.19 and its two-hundred day moving average price is $235.63.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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

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.