Concentric Capital Strategies LP purchased a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 83,106 shares of the business services provider's stock, valued at approximately $20,125,000. Republic Services makes up approximately 1.9% of Concentric Capital Strategies LP's portfolio, making the stock its 8th biggest position.
Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after purchasing an additional 8,547 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Republic Services during the fourth quarter worth about $651,000. Captrust Financial Advisors lifted its holdings in shares of Republic Services by 9.4% during the fourth quarter. Captrust Financial Advisors now owns 12,385 shares of the business services provider's stock worth $2,492,000 after purchasing an additional 1,064 shares during the period. Cetera Investment Advisers raised its position in Republic Services by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 87,554 shares of the business services provider's stock valued at $17,614,000 after acquiring an additional 3,244 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in Republic Services by 7.7% during the fourth quarter. EP Wealth Advisors LLC now owns 4,162 shares of the business services provider's stock valued at $837,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.
Analysts Set New Price Targets
RSG has been the subject of several recent research reports. National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Raymond James Financial lifted their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Scotiabank lifted their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Two investment 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 data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $262.17.
Read Our Latest Analysis on RSG
Republic Services Price Performance
Shares of RSG traded down $1.75 during trading hours on Monday, hitting $227.98. 1,269,909 shares of the stock were exchanged, compared to its average volume of 1,273,252. 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, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The stock's 50-day moving average price is $237.22 and its two-hundred day moving average price is $241.13.
Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.
Republic Services Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is presently 36.98%.
Insiders Place Their Bets
In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 of the company's stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.
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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