Adams Diversified Equity Fund Inc. Acquires Shares of 68,500 Republic Services, Inc. $RSG

Key Points

• Adams Diversified Equity Fund Inc. has acquired 68,500 shares of Republic Services, Inc., valued at approximately $16.89 million, as reported in its recent SEC filing.
• Institutional investors now own 57.73% of Republic Services' stock, indicating strong institutional interest in the company.
• Republic Services reported a 4.6% increase in year-over-year revenue, with earnings per share of $1.77 for the last quarter, surpassing analyst expectations.

Adams Diversified Equity Fund Inc. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,500 shares of the business services provider's stock, valued at approximately $16,893,000.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. Brighton Jones LLC grew its holdings in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. GAMMA Investing LLC boosted its stake in Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after buying an additional 3,503 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Republic Services by 11.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,912 shares of the business services provider's stock valued at $5,306,000 after purchasing an additional 2,270 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Republic Services by 17.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,254 shares of the business services provider's stock worth $2,725,000 after buying an additional 1,637 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Republic Services by 2.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 108,601 shares of the business services provider's stock valued at $26,299,000 after purchasing an additional 2,335 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Republic Services Price Performance

NYSE RSG opened at $220.97 on Wednesday. The business's fifty day moving average is $228.33 and its 200 day moving average is $238.80. 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 market capitalization of $68.99 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 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 for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The business's revenue was up 4.6% 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 year.

Analyst Ratings Changes

A number of research firms recently commented on RSG. Raymond James Financial set a $260.00 price objective on Republic Services and gave the company an "outperform" rating in a research report on Monday, October 6th. Scotiabank set a $250.00 target price on Republic Services in a report on Friday, October 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Services in a report on Wednesday, October 8th. National Bankshares decreased their target price on Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Finally, Citigroup lowered their target price on Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $257.10.

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.

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