Fortis Capital Advisors LLC Has $882,000 Holdings in Republic Services, Inc. $RSG

Key Points

• Fortis Capital Advisors LLC has reduced its stake in Republic Services, Inc. by 28.4%, now holding shares valued at $882,000.
• The company recently increased its quarterly dividend from $0.58 to $0.625, representing a yield of 1.1% and a payout ratio of 34.32%.
• Republic Services has garnered a consensus rating of "Moderate Buy" with a price target of $262.17 following recent adjustments by multiple research analysts.

Fortis Capital Advisors LLC cut its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 28.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,641 shares of the business services provider's stock after selling 1,444 shares during the period. Fortis Capital Advisors LLC's holdings in Republic Services were worth $882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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. Key Financial Inc boosted its position in Republic Services by 380.8% in the first 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 boosted its position in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares in the last quarter. Elequin Capital LP acquired a new position in Republic Services in the first quarter valued at about $30,000. Finally, Park Square Financial Group LLC acquired a new position in Republic Services in the fourth quarter valued at about $44,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

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

Republic Services Trading Down 1.6%

Shares of RSG traded down $3.75 on Friday, reaching $228.46. 891,769 shares of the company's stock were exchanged, compared to its average volume of 955,511. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $71.33 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.59. The business has a 50 day moving average price of $235.93 and a two-hundred day moving average price of $240.91. 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 posted its quarterly 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 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%. Republic Services's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share 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 34.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RSG. Scotiabank upped their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. BMO Capital Markets upped their target price on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.