Drake & Associates LLC Invests $2.61 Million in Republic Services, Inc. $RSG

Key Points

• Drake & Associates LLC invested approximately $2.61 million in Republic Services, acquiring 10,588 shares of the company during the 2nd quarter.
• Republic Services announced an increase in its quarterly dividend to $0.625, up from $0.58, indicating a positive trend in shareholder returns.
• Analysts generally have a positive outlook on Republic Services, with a consensus rating of "Moderate Buy" and an average price target of $260.58 per share.

Drake & Associates LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,588 shares of the business services provider's stock, valued at approximately $2,611,000.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of 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 valued at $29,000 after buying an additional 110 shares in the last quarter. Key Financial Inc grew 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 buying an additional 99 shares in the last quarter. TCTC Holdings LLC raised its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares during the period. Finally, Elequin Capital LP bought a new position in shares of Republic Services in the first quarter worth $30,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction 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 transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the business'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 completion of the sale, 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 disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Stock Performance

Republic Services stock opened at $223.03 on Tuesday. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm's fifty day moving average price is $231.08 and its 200-day moving average price is $240.21. The stock has a market cap of $69.63 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. 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 released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The firm'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. 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 company 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 36.98%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RSG shares. Stifel Nicolaus assumed coverage on Republic Services in a report on Monday, September 29th. They set a "buy" rating and a $257.00 price objective on the stock. Citigroup lowered their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. BMO Capital Markets boosted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Oppenheimer boosted their price target on shares of Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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