Key Points
- Cascade Investment purchased 174,500 Republic Services shares for approximately $37.7 million at $215.80 each, increasing its stake by 0.16% to more than 111.4 million shares. The investor also made several additional purchases in August.
- Republic Services exceeded quarterly expectations, reporting $1.85 in earnings per share and $4.43 billion in revenue, while revenue grew 4.6% year over year. The company raised its quarterly dividend to $0.67 per share, implying a 1.2% yield.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $245.26 versus the stock’s recent price near $214.75. Institutional investors own 57.73% of the company.
Republic Services, Inc. (NYSE:RSG - Get Free Report) major shareholder Cascade Investment, L.L.C. acquired 174,500 shares of Republic Services stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $215.80 per share, for a total transaction of $37,657,100.00. Following the completion of the purchase, the insider directly owned 111,480,146 shares of the company's stock, valued at approximately $24,057,415,506.80. The trade was a 0.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Cascade Investment, L.L.C. also recently made the following trade(s):
- On Thursday, August 13th, Cascade Investment, L.L.C. bought 188,460 shares of Republic Services stock. The stock was bought at an average cost of $215.81 per share, with a total value of $40,671,552.60.
- On Tuesday, August 11th, Cascade Investment, L.L.C. bought 240,000 shares of Republic Services stock. The shares were bought at an average price of $216.32 per share, with a total value of $51,916,800.00.
- On Monday, August 10th, Cascade Investment, L.L.C. purchased 261,664 shares of Republic Services stock. The stock was bought at an average cost of $214.89 per share, for a total transaction of $56,228,976.96.
- On Monday, May 18th, Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock. The shares were bought at an average cost of $213.31 per share, with a total value of $12,947,917.00.
Republic Services Stock Down 0.2%
Shares of Republic Services stock opened at $214.75 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.67 and a current ratio of 0.64. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $238.62. The company's 50 day moving average price is $214.01 and its 200-day moving average price is $214.98. The stock has a market capitalization of $65.76 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.52 and a beta of 0.40.
Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.04. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Equities research analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.
Republic Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This is an increase from Republic Services's previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. Republic Services's dividend payout ratio (DPR) is currently 35.41%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Republic Services in the 2nd quarter worth approximately $3,798,092,000. State Street Corp boosted its position in shares of Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider's stock valued at $2,054,820,000 after purchasing an additional 166,474 shares in the last quarter. Capital World Investors grew its stake in Republic Services by 27.7% in the fourth quarter. Capital World Investors now owns 8,765,623 shares of the business services provider's stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares during the period. Morgan Stanley raised its holdings in Republic Services by 38.6% in the fourth quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider's stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Republic Services by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider's stock valued at $1,074,513,000 after buying an additional 807,525 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on RSG shares. Morgan Stanley set a $232.00 price target on Republic Services in a report on Friday, August 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Republic Services in a research note on Friday, July 24th. UBS Group upped their target price on Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $249.00 price target on shares of Republic Services in a research note on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.26.
Read Our Latest Analysis on Republic Services
About Republic Services
(
Get Free Report)
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.
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