Jupiter Asset Management Ltd. Sells 26,431 Shares of Republic Services, Inc. $RSG

Jupiter Asset Management Ltd. cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 18.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,525 shares of the business services provider’s stock after selling 26,431 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Republic Services were worth $28,243,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cranbrook Wealth Management LLC boosted its stake in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares during the last quarter. TCTC Holdings LLC boosted 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 purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new position in Republic Services in the first quarter valued at approximately $30,000. NewSquare Capital LLC raised its stake in shares of Republic Services by 68.5% during the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in shares of Republic Services in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.9%

Shares of RSG stock opened at $205.36 on Thursday. The stock’s fifty day simple moving average is $221.19 and its 200 day simple moving average is $235.63. Republic Services, Inc. has a twelve month low of $199.43 and a twelve month 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. The firm has a market capitalization of $63.57 billion, a P/E ratio of 30.38, a P/E/G ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. Republic Services’s revenue was up 3.3% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors 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 currently 37.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Oppenheimer set a $256.00 target price on Republic Services in a research report on Friday, October 31st. BMO Capital Markets upped their price objective on Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Citigroup lowered their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Finally, UBS Group reduced their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $251.52.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was purchased 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. The trade was a 0.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction dated 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 owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by insiders.

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.