Focus Partners Wealth Purchases 3,124 Shares of Republic Services, Inc. $RSG

Key Points

• Focus Partners Wealth increased its stake in Republic Services, acquiring an additional 3,124 shares, bringing its total holdings to 164,907 shares valued at approximately $39.9 million.
• Republic Services’ recent earnings report showed a quarterly profit of $1.77 per share, slightly exceeding analysts' expectations, with revenue of $4.24 billion, marking a 4.6% increase year-over-year.
• The company announced a quarterly dividend increase to $0.625 per share, up from the previous $0.58, with a 1.1% dividend yield and a payout ratio of 34.32%.

Focus Partners Wealth lifted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,907 shares of the business services provider's stock after purchasing an additional 3,124 shares during the quarter. Focus Partners Wealth owned about 0.05% of Republic Services worth $39,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RSG. GAMMA Investing LLC boosted its position in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. C WorldWide Group Holding A S bought a new position in shares of Republic Services during the 1st quarter valued at approximately $230,013,000. Nuveen LLC bought a new position in shares of Republic Services during the 1st quarter valued at approximately $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider's stock valued at $427,009,000 after acquiring an additional 384,695 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Republic Services during the fourth quarter worth approximately $65,201,000. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

Republic Services Stock Performance

RSG stock opened at $228.39 on Thursday. 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 business's fifty day simple moving average is $236.36 and its two-hundred day simple moving average is $240.94. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The firm has a market cap of $71.31 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 3.57 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RSG. National Bank Financial raised Republic Services to a "hold" rating in a research note on Monday, May 26th. JPMorgan Chase & Co. boosted their price objective on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial boosted their price objective on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Melius began coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.