Geode Capital Management LLC Raises Position in Republic Services, Inc. $RSG

Geode Capital Management LLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,821,387 shares of the business services provider’s stock after purchasing an additional 144,003 shares during the quarter. Geode Capital Management LLC’s holdings in Republic Services were worth $1,187,328,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Republic Services by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock worth $4,543,231,000 after acquiring an additional 170,548 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after buying an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Republic Services by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after buying an additional 17,711 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after purchasing an additional 119,158 shares during the period. Finally, TD Asset Management Inc grew its stake in Republic Services by 12.4% in the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock worth $494,930,000 after acquiring an additional 224,867 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RSG has been the topic of several research reports. National Bankshares reduced their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target on shares of Republic Services in a research report on Friday, October 31st. Scotiabank lowered their price objective on shares of 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. Jefferies Financial Group set a $248.00 price target on shares of Republic Services and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.52.

Republic Services Price Performance

NYSE:RSG opened at $205.36 on Thursday. The firm’s fifty day moving average is $221.19 and its two-hundred day moving average is $235.63. The firm has a market cap of $63.57 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 3.40 and a beta of 0.57. 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, Inc. has a one year low of $199.43 and a one year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The business’s quarterly 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. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

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

Insider Activity

In related news, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider directly 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 SEC filing for this purchase provides additional information. 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.