Belpointe Asset Management LLC Sells 1,559 Shares of Republic Services, Inc. $RSG

Key Points

• Belpointe Asset Management LLC reduced its holdings in Republic Services, Inc. by 21.1%, owning 5,827 shares worth $1.41 million as of the most recent SEC filing.
• GAMMA Investing LLC made a significant increase of 39,024.4% in its position, owning 2.2 million shares valued at over $539 million after purchasing an additional 2.2 million shares.
• Republic Services has raised its quarterly dividend to $0.625 per share, reflecting an increase from the previous $0.58, with a yield of 1.1% and a payout ratio of 34.32%.

Belpointe Asset Management LLC cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,827 shares of the business services provider's stock after selling 1,559 shares during the quarter. Belpointe Asset Management LLC's holdings in Republic Services were worth $1,411,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RSG. Brighton Jones LLC raised its position in shares of Republic Services by 75.8% in 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. Graham Capital Management L.P. increased its position in Republic Services by 20.4% during the fourth quarter. Graham Capital Management L.P. now owns 3,900 shares of the business services provider's stock worth $785,000 after acquiring an additional 662 shares during the period. Jefferies Financial Group Inc. bought a new position in Republic Services during the fourth quarter worth about $246,000. Janus Henderson Group PLC increased its position in Republic Services by 0.7% during the fourth quarter. Janus Henderson Group PLC now owns 32,148 shares of the business services provider's stock worth $6,468,000 after acquiring an additional 217 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Republic Services by 6.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,904 shares of the business services provider's stock worth $20,300,000 after acquiring an additional 6,399 shares during the period. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred 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 transaction, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

Republic Services Price Performance

Shares of RSG traded down $2.66 during mid-day trading on Tuesday, reaching $225.49. The company had a trading volume of 525,518 shares, compared to its average volume of 1,262,740. The company's 50 day simple moving average is $235.65 and its 200 day simple moving average is $240.97. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year 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 company has a market capitalization of $70.40 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 3.56 and a beta of 0.59.

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

Republic Services Increases Dividend

The firm also recently disclosed 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. This is a positive change from Republic Services's previous quarterly dividend of $0.58. 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. Republic Services's payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. BMO Capital Markets raised their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating on the stock. UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $262.17.

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.