Exchange Traded Concepts LLC Has $3.42 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Exchange Traded Concepts LLC reduced its holdings in Republic Services, Inc. by 30.7%, owning 13,864 shares worth approximately $3.42 million after selling 6,142 shares in the latest quarter.
• Major shareholder Cascade Investment acquired 4,258 shares at around $234.91 per share, bringing their total ownership to over 109.8 million shares valued at more than $25.79 billion.
• Republic Services announced a quarterly dividend increase to $0.625 per share, reflecting an annualized dividend of $2.50 and a yield of 1.1%.

Exchange Traded Concepts LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 30.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,864 shares of the business services provider's stock after selling 6,142 shares during the period. Exchange Traded Concepts LLC's holdings in Republic Services were worth $3,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Atticus Wealth Management LLC bought a new stake in shares of Republic Services during the 2nd quarter worth about $39,000. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Republic Services by 1.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 82,000 shares of the business services provider's stock worth $20,222,000 after buying an additional 800 shares during the period. Wedmont Private Capital boosted its holdings in shares of Republic Services by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,871 shares of the business services provider's stock worth $691,000 after buying an additional 104 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in shares of Republic Services by 5.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 43,428 shares of the business services provider's stock worth $10,707,000 after buying an additional 2,410 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Republic Services by 5.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,699 shares of the business services provider's stock worth $7,817,000 after buying an additional 1,769 shares during the period. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RSG shares. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a report on Monday, June 9th. Scotiabank boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Finally, Raymond James Financial boosted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.58.

Insiders Place Their Bets

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

Republic Services Trading Up 0.1%

Shares of NYSE RSG opened at $226.90 on Friday. 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 52-week low of $197.60 and a 52-week high of $258.75. The firm has a 50 day moving average price of $234.54 and a two-hundred day moving average price of $240.64. The stock has a market cap of $70.84 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company'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. As a group, equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 34.32%.

Republic Services Company Profile

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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