Canandaigua National Trust Co of Florida Invests $371,000 in Republic Services, Inc. $RSG

Key Points

• Canandaigua National Trust Co of Florida invested approximately $371,000 in Republic Services, Inc., purchasing 1,506 shares during the second quarter.
• Analysts have shown positive sentiment, with various firms raising their target prices, notably Scotiabank's increase from $250.00 to $260.00 and Oppenheimer's raise from $262.00 to $268.00.
• Republic Services announced a quarterly dividend increase to $0.625 per share, up from the previous $0.58, set to be paid on October 15th.

Canandaigua National Trust Co of Florida purchased a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,506 shares of the business services provider's stock, valued at approximately $371,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% in the first 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 in the last quarter. TCTC Holdings LLC lifted its holdings in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc lifted its holdings in shares of Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Republic Services in the first quarter worth about $30,000. Finally, Cheviot Value Management LLC bought a new position in shares of Republic Services in the first quarter worth approximately $49,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the topic of a number of recent analyst reports. Scotiabank raised their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. Oppenheimer raised their target price on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $262.17.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction on 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 in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Republic Services Trading Down 1.6%

RSG stock opened at $228.46 on Monday. The company has a market capitalization of $71.33 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company's 50 day moving average price is $235.93 and its two-hundred day moving average price is $241.03. 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 the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter last 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. As a group, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company 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 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 is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 34.32%.

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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