Dogwood Wealth Management LLC Has $367,000 Stake in Republic Services, Inc. $RSG

Key Points

• Dogwood Wealth Management LLC increased its stake in Republic Services, Inc. by 12,700%, reaching a total value of $367,000 by acquiring 1,524 additional shares in the second quarter.
• Republic Services has recently announced a quarterly dividend of $0.625, up from the previous $0.58, with an annualized yield of 1.1%.
• Analysts have raised their price targets for Republic Services, with most giving it a consensus rating of "Moderate Buy" and an average price target of $260.58.

Dogwood Wealth Management LLC grew its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 12,700.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,536 shares of the business services provider's stock after purchasing an additional 1,524 shares during the period. Dogwood Wealth Management LLC's holdings in Republic Services were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its holdings in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Key Financial Inc raised its stake in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares during the period. Finally, Elequin Capital LP bought a new stake in Republic Services in the 1st quarter valued at about $30,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of the company's 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 sale, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RSG. Raymond James Financial upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Scotiabank upped their target price on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Barclays began coverage on Republic Services in a research note on Friday, September 19th. They set an "equal weight" rating and a $240.00 price objective for the company. Citigroup dropped their price target on Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Finally, Oppenheimer increased their price objective on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $260.58.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $229.52 on Wednesday. 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 firm has a market cap of $71.66 billion, a PE ratio of 33.95, a PEG ratio of 3.57 and a beta of 0.59. The company's 50 day moving average price is $232.64 and its two-hundred day moving average price is $240.45. 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 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion during 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 in the prior year, the firm earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts predict 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 given 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 yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 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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