AlphaQuest LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 93.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 529 shares of the business services provider's stock after selling 8,133 shares during the quarter. AlphaQuest LLC's holdings in Republic Services were worth $128,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc lifted its position in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the last quarter. Hemington Wealth Management lifted its position in Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after buying an additional 47 shares during the last quarter. Finally, FORA Capital LLC lifted its position in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.
Analyst Ratings Changes
RSG has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. BMO Capital Markets boosted their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Melius began coverage on Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $262.17.
Check Out Our Latest Research Report on RSG
Insider Buying and Selling at Republic Services
In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction on 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 approximately $949,796.40. The trade was 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 corporate insiders.
Republic Services Trading Down 1.9%
Shares of Republic Services stock traded down $4.38 during midday trading on Friday, reaching $229.47. 1,086,708 shares of the company's stock traded hands, compared to its average volume of 938,245. 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 company has a market cap of $71.65 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The stock has a 50 day moving average of $237.22 and a 200-day moving average of $241.06. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.
Republic Services Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is currently 34.32%.
About Republic Services
(
Free Report)
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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