Appleton Partners Inc. MA Sells 2,725 Shares of Republic Services, Inc. $RSG

Key Points

• Appleton Partners Inc. MA decreased its position in Republic Services by 5.9%, selling 2,725 shares during the 2nd quarter, leading to holdings valued at approximately $10.7 million.
• Research analysts have rated Republic Services with an average rating of "Moderate Buy" and a target price of $260.58, following several upgrades from various financial institutions.
• Republic Services recently announced an increase in its quarterly dividend from $0.58 to $0.625, marking a 1.1% dividend yield and a payout ratio of 36.98%.

Appleton Partners Inc. MA decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 43,406 shares of the business services provider's stock after selling 2,725 shares during the period. Appleton Partners Inc. MA's holdings in Republic Services were worth $10,704,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in Republic Services in the first quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Republic Services by 0.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC purchased a new stake in Republic Services in the first quarter worth $260,000. Finally, GAMMA Investing LLC grew its stake in Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after purchasing an additional 3,503 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. 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. Scotiabank upped their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a research note on Saturday, September 27th. Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price for the company. Finally, Citigroup cut 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 equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $260.58.

Republic Services Trading Up 0.7%

Shares of RSG stock opened at $224.14 on Monday. The stock has a fifty day moving average of $231.45 and a two-hundred day moving average of $240.28. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The firm has a market capitalization of $69.98 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 3.50 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 issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts expect that Republic Services, Inc. will post 6.86 EPS 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 issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 36.98%.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregg Brummer sold 7,338 shares of the firm'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 completion of the sale, the executive vice president owned 4,060 shares of the company's stock, 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 currently owned by corporate insiders.

Republic Services Company 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.

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