Venture Visionary Partners LLC Cuts Position in Republic Services, Inc. $RSG

Venture Visionary Partners LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 28.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,451 shares of the business services provider’s stock after selling 972 shares during the quarter. Venture Visionary Partners LLC’s holdings in Republic Services were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after acquiring an additional 170,548 shares in the last quarter. Wellington Management Group LLP increased its holdings in Republic Services by 0.7% during the 1st 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 acquiring an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Republic Services by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock valued at $1,292,050,000 after acquiring an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after acquiring an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Republic Services by 12.4% during the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after acquiring an additional 224,867 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RSG shares. Barclays initiated coverage on shares of Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price for the company. Scotiabank raised their price target on shares of Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Friday, July 18th. Oppenheimer raised their price target on shares of Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 price target on the stock in a research note on Monday, June 9th. Finally, UBS Group set a $260.00 price target on shares of Republic Services and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $260.58.

Republic Services Price Performance

RSG opened at $227.28 on Thursday. The company’s 50 day simple moving average is $232.32 and its 200 day simple moving average is $240.36. 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 1 year low of $197.60 and a 1 year high of $258.75. The stock has a market capitalization of $70.96 billion, a PE ratio of 33.62, a P/E/G ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the company earned $1.61 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services’s dividend payout ratio is 34.32%.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost 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 in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.