Solstein Capital LLC Increases Holdings in Republic Services, Inc. $RSG

Solstein Capital LLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 147.9% in the second quarter, Holdings Channel reports. The institutional investor owned 357 shares of the business services provider’s stock after buying an additional 213 shares during the quarter. Solstein Capital LLC’s holdings in Republic Services were worth $88,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Resonant Capital Advisors LLC raised its stake in shares of Republic Services by 33.5% in the second quarter. Resonant Capital Advisors LLC now owns 1,120 shares of the business services provider’s stock worth $276,000 after purchasing an additional 281 shares during the last quarter. Heirloom Wealth Management raised its stake in shares of Republic Services by 0.5% in the second quarter. Heirloom Wealth Management now owns 84,366 shares of the business services provider’s stock worth $20,805,000 after purchasing an additional 413 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Republic Services by 2.6% in the second quarter. Brighton Jones LLC now owns 19,980 shares of the business services provider’s stock worth $4,927,000 after purchasing an additional 497 shares during the last quarter. MQS Management LLC purchased a new position in shares of Republic Services in the second quarter worth $395,000. Finally, AlphaQuest LLC raised its stake in shares of Republic Services by 1,711.0% in the second quarter. AlphaQuest LLC now owns 9,580 shares of the business services provider’s stock worth $2,363,000 after purchasing an additional 9,051 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $223.16 on Monday. The stock has a 50-day simple moving average of $227.75 and a two-hundred day simple moving average of $238.69. Republic Services, Inc. has a 52-week low of $197.60 and a 52-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. The firm has a market capitalization of $69.68 billion, a PE ratio of 33.01, a P/E/G ratio of 3.60 and a beta of 0.59.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. Republic Services’s revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is 36.98%.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on Republic Services in a research note on Monday, September 29th. They issued a “buy” rating and a $257.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Citigroup cut their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Barclays assumed coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective for the company. Finally, Raymond James Financial set a $260.00 price objective on Republic Services and gave the stock an “outperform” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.10.

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 completion of the transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company’s stock.

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.