SouthState Corp Raises Stake in Republic Services, Inc. $RSG

SouthState Corp lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 26,584 shares of the business services provider’s stock after buying an additional 585 shares during the quarter. SouthState Corp’s holdings in Republic Services were worth $6,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cranbrook Wealth Management LLC boosted its position in shares of Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. NewSquare Capital LLC lifted its position in Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. TCTC Holdings LLC lifted its position in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc lifted its position in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares in the last quarter. Finally, Elequin Capital LP acquired a new position in Republic Services during the first quarter valued at approximately $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RSG has been the topic of a number of recent research reports. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research report on Friday, October 31st. Jefferies Financial Group set a $248.00 price target on shares of Republic Services and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus dropped their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. lowered their target price on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, National Bankshares lowered their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.85.

Republic Services Stock Performance

RSG stock opened at $206.53 on Thursday. The company has a market capitalization of $64.48 billion, a P/E ratio of 30.55, a PEG ratio of 3.40 and a beta of 0.57. The company has a 50-day simple moving average of $224.01 and a 200 day simple moving average of $236.90. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 yield of 1.2%. Republic Services’s dividend payout ratio is currently 37.20%.

About Republic Services

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.