Mattern Capital Management LLC Boosts Stock Holdings in Republic Services, Inc. $RSG

Mattern Capital Management LLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 16.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,481 shares of the business services provider’s stock after purchasing an additional 499 shares during the period. Mattern Capital Management LLC’s holdings in Republic Services were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RSG. C WorldWide Group Holding A S purchased a new stake in shares of Republic Services during the first quarter valued at about $230,013,000. Nuveen LLC purchased a new stake in shares of Republic Services during the first quarter valued at about $198,685,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Republic Services by 27.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock valued at $427,009,000 after buying an additional 384,695 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Republic Services during the first quarter valued at about $63,910,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm’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 of the company’s stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were 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. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $222.50 on Friday. The company’s fifty day moving average price is $231.87 and its 200 day moving average price is $240.27. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The stock has a market capitalization of $69.47 billion, a P/E ratio of 32.91, a P/E/G ratio of 3.54 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the company earned $1.61 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is 36.98%.

Analyst Ratings Changes

RSG has been the subject of several analyst reports. Scotiabank increased their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Friday, July 18th. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Oppenheimer increased their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Raymond James Financial increased their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Finally, Melius started coverage on shares of Republic Services in a report on Monday, June 9th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $260.58.

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.