2,679 Republic Services, Inc. $RSG Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,436 shares of the business services provider’s stock after purchasing an additional 2,679 shares during the period. Rakuten Investment Management Inc.’s holdings in Republic Services were worth $7,510,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Provenance Wealth Advisors LLC lifted its holdings in Republic Services by 17,700.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 534 shares of the business services provider’s stock worth $112,000 after buying an additional 531 shares in the last quarter. Integrity Alliance LLC. boosted its position in Republic Services by 7.4% in the 3rd quarter. Integrity Alliance LLC. now owns 1,050 shares of the business services provider’s stock valued at $220,000 after buying an additional 72 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its stake in shares of Republic Services by 143.3% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 3,226 shares of the business services provider’s stock worth $677,000 after acquiring an additional 1,900 shares in the last quarter. Columbia Bank grew its stake in shares of Republic Services by 9.2% in the third quarter. Columbia Bank now owns 2,995 shares of the business services provider’s stock worth $629,000 after acquiring an additional 252 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Republic Services during the third quarter worth $10,365,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the purchase, the insider directly owned 116,166,330 shares of the company’s stock, valued at $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 6,254,462 shares of company stock valued at $1,380,321,958. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RSG shares. Robert W. Baird increased their price objective on Republic Services from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Raymond James Financial set a $235.00 target price on Republic Services in a report on Friday, October 9th. Citigroup boosted their target price on Republic Services from $259.00 to $281.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group upped their price target on Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Canadian Imperial Bank of Commerce reduced their price target on Republic Services from $249.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus target price of $249.32.

Key Stories Impacting Republic Services

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Citigroup raised its price target to $281 from $259 and reiterated a Buy rating, suggesting it sees further upside. Barclays was also reported as forecasting strong price appreciation. Citigroup analyst coverage Barclays analyst coverage
• Positive Sentiment: A recent commentary highlighted the appeal of steady, predictable businesses during market volatility—a profile that may benefit Republic Services’ recurring waste-collection and disposal services. Commentary on defensive stocks
• Neutral Sentiment: Recent quarterly results offer business fundamentals: revenue rose 8.2% year over year to $4.56 billion, above estimates, while earnings per share of $1.94 narrowly beat consensus. These results were reported before the current news window. Republic Services company and trading information
• Negative Sentiment: EVP Brian Bales sold 3,400 shares for $829,600, reducing his holdings by 16.18%. He still owns 17,616 shares, so the sale may be a limited negative signal rather than clear evidence of a change in company outlook. Report on insider stock sale

Republic Services Stock Performance

Shares of RSG stock opened at $249.16 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14. The firm has a fifty day moving average price of $224.40 and a 200 day moving average price of $217.51. The company has a market cap of $75.91 billion, a P/E ratio of 34.46, a PEG ratio of 4.08 and a beta of 0.32. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $254.39.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Republic Services’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services’s dividend payout ratio is currently 37.07%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.