Bowen Hanes & Co. Inc. Buys 12,500 Shares of Republic Services, Inc. $RSG

Key Points

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Bowen Hanes & Co. Inc. raised its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,260 shares of the business services provider's stock after purchasing an additional 12,500 shares during the quarter. Republic Services makes up about 1.6% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 28th biggest holding. Bowen Hanes & Co. Inc. owned about 0.08% of Republic Services worth $57,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Republic Services by 0.4% during the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after acquiring an additional 44 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after purchasing an additional 46 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in shares of Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after purchasing an additional 46 shares during the last quarter. Hemington Wealth Management boosted its position in shares of 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 purchasing an additional 47 shares in the last quarter. Finally, FORA Capital LLC grew its stake in shares of 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. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Melius started coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. Citigroup upped their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Raymond James Financial upped their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Performance

Shares of Republic Services stock traded down $1.3090 during trading hours on Friday, reaching $234.1310. 1,183,937 shares of the stock traded hands, compared to its average volume of 1,292,595. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The firm has a market capitalization of $73.10 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 3.68 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $240.45 and a 200 day moving average price of $240.29.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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 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 revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.