Catalina Capital Group LLC Cuts Stock Position in Republic Services, Inc. $RSG

Catalina Capital Group LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,100 shares of the business services provider’s stock after selling 296 shares during the quarter. Catalina Capital Group LLC’s holdings in Republic Services were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock worth $4,543,231,000 after buying an additional 170,548 shares during the period. Wellington Management Group LLP raised its holdings in shares of Republic Services by 0.7% in 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 acquiring an additional 42,019 shares in the last quarter. 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 valued at $1,292,050,000 after acquiring an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock worth $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in Republic Services by 12.4% in the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock worth $494,930,000 after purchasing an additional 224,867 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the sale, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider 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 disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RSG. Stifel Nicolaus began coverage on Republic Services in a research note on Monday. They set a “buy” rating and a $257.00 price target on the stock. Barclays began coverage on Republic Services in a research note on Friday, September 19th. They set an “equal weight” rating and a $240.00 price target on the stock. Citigroup dropped their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Raymond James Financial boosted their price target on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Melius Research upgraded Republic Services to a “hold” rating and set a $281.00 target price on the stock in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $260.58.

Republic Services Price Performance

Shares of NYSE:RSG opened at $222.50 on Friday. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company’s 50 day moving average is $231.87 and its 200 day moving average is $240.27. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market cap of $69.47 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share 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 company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company earned $1.61 EPS. Republic Services’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. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 36.98%.

Republic Services 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.