Dakota Wealth Management Has $4.45 Million Holdings in Republic Services, Inc. $RSG

Key Points

• Dakota Wealth Management reduced its holdings in Republic Services by 12.0% during the 2nd quarter, bringing the total value of its stake to approximately $4.45 million.
• Republic Services recently announced an increase in its quarterly dividend to $0.625 per share, with a payout ratio of 34.32%.
• The company reported quarterly earnings of $1.77 EPS, surpassing analyst estimates, with a year-over-year revenue growth of 4.6%.

Dakota Wealth Management decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,025 shares of the business services provider's stock after selling 2,459 shares during the quarter. Dakota Wealth Management's holdings in Republic Services were worth $4,445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in shares of Republic Services by 0.4% in the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after buying an additional 44 shares during the period. Elevation Point Wealth Partners LLC lifted its position in shares of Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after acquiring an additional 46 shares during the period. Gries Financial LLC grew its holdings in shares of Republic Services by 3.8% during the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider's stock worth $308,000 after purchasing an additional 46 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Republic Services by 17.8% in the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider's stock worth $75,000 after purchasing an additional 46 shares during the period. Finally, Hemington Wealth Management raised its stake in Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

Republic Services Stock Performance

Shares of RSG stock opened at $227.06 on Friday. The firm has a market capitalization of $70.89 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 3.55 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The business's 50-day moving average price is $233.35 and its 200-day moving average price is $240.43. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business earned $1.61 EPS. The firm's quarterly 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. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is 34.32%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RSG shares. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday, June 9th. Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. Scotiabank raised 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. Oppenheimer boosted their price target on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.58.

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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