Focus Partners Wealth Raises Position in Republic Services, Inc. $RSG

Focus Partners Wealth grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,907 shares of the business services provider’s stock after purchasing an additional 3,124 shares during the period. Focus Partners Wealth’s holdings in Republic Services were worth $39,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Key Financial Inc lifted its holdings in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Republic Services during the 1st quarter valued at $30,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Republic Services during the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RSG. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. lifted their target price on Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, Melius Research raised Republic Services to a “hold” rating and set a $281.00 target price for the company in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.17.

Republic Services Stock Performance

NYSE RSG opened at $228.39 on Thursday. The stock has a 50-day simple moving average of $236.36 and a two-hundred day simple moving average of $240.94. The firm has a market capitalization of $71.31 billion, a P/E ratio of 33.79, a PEG ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. 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 released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.