Fenimore Asset Management Inc Sells 1,662 Shares of Republic Services, Inc. $RSG

Key Points

• Fenimore Asset Management Inc reduced its stake in Republic Services by 0.6% during the second quarter, owning 280,961 shares worth approximately $69.3 million.
• Republic Services recently announced a quarterly dividend increase to $0.625, representing a yield of 1.1%, with a payout ratio of 36.98%.
• Several institutional investors, including Golden State Wealth Management and Cranbrook Wealth Management, significantly increased their positions in Republic Services, reflecting growing confidence in the company.

Fenimore Asset Management Inc cut its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 280,961 shares of the business services provider's stock after selling 1,662 shares during the quarter. Republic Services makes up 1.4% of Fenimore Asset Management Inc's portfolio, making the stock its 28th largest holding. Fenimore Asset Management Inc owned about 0.09% of Republic Services worth $69,288,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RSG. Golden State Wealth Management LLC boosted its position in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Key Financial Inc boosted its holdings in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC increased 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 purchasing an additional 66 shares in the last quarter. Finally, Elequin Capital LP bought a new position in Republic Services in the 1st quarter valued at $30,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG stock opened at $224.14 on Monday. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. 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 company has a market cap of $69.98 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The business's fifty day moving average is $231.45 and its 200-day moving average is $240.28.

Republic Services (NYSE:RSG - Get Free Report) last released 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 return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company posted $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. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is currently 36.98%.

Analysts Set New Price Targets

Several brokerages have recently commented on RSG. UBS Group set a $260.00 target price on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Melius assumed coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. Stifel Nicolaus initiated coverage on shares of Republic Services in a research note on Monday, September 29th. They issued a "buy" rating and a $257.00 target price for the company. Barclays started coverage on shares of Republic Services in a research note on Friday, September 19th. They set an "equal weight" rating and a $240.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and an average target price of $260.58.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the firm'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 sale, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value 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. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company's stock.

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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