Montag A & Associates Inc. Trims Holdings in Republic Services, Inc. $RSG

Montag A & Associates Inc. decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,111 shares of the business services provider’s stock after selling 250 shares during the period. Montag A & Associates Inc.’s holdings in Republic Services were worth $3,480,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. Alps Advisors Inc. purchased a new stake in Republic Services in the 1st quarter worth approximately $368,000. Cerity Partners LLC boosted its holdings in Republic Services by 23.6% in the 1st quarter. Cerity Partners LLC now owns 36,383 shares of the business services provider’s stock valued at $8,810,000 after purchasing an additional 6,952 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Republic Services during the 1st quarter valued at $201,000. Finally, Schechter Investment Advisors LLC bought a new position in shares of Republic Services in the first quarter worth $232,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets boosted their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Scotiabank dropped their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Barclays began coverage on shares of Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $240.00 price target on shares of Republic Services in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $253.85.

Insider Activity

In related news, EVP Gregg Brummer sold 7,338 shares of the firm’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 transaction of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, with a total value of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Republic Services Trading Down 0.8%

Shares of RSG opened at $203.96 on Tuesday. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $258.75. The firm has a market cap of $63.14 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 3.40 and a beta of 0.57. The firm has a 50 day moving average price of $222.25 and a 200-day moving average price of $236.11. 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 (NYSE:RSG) last issued its earnings results on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is 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.