Friedenthal Financial Buys New Holdings in Republic Services, Inc. $RSG

Key Points

• Friedenthal Financial has acquired a new stake in Republic Services, Inc. worth approximately $961,000 by purchasing 3,895 shares during the second quarter.
• Republic Services reported an earnings per share of $1.77 for the last quarter, slightly exceeding analysts' estimates, and its revenue was $4.24 billion, reflecting a year-over-year increase of 4.6%.
• The company plans to distribute a new quarterly dividend of $0.625, up from the previous $0.58, with a payout ratio of approximately 36.98%.

Friedenthal Financial bought a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,895 shares of the business services provider's stock, valued at approximately $961,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Republic Services by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock valued at $4,543,231,000 after acquiring an additional 170,548 shares in the last quarter. Wellington Management Group LLP raised its holdings in Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after purchasing an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Republic Services by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock valued at $1,292,050,000 after buying an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Republic Services by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock valued at $695,541,000 after buying an additional 119,158 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Republic Services by 12.4% in the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock valued at $494,930,000 after buying an additional 224,867 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $222.53 on Wednesday. The firm's fifty day simple moving average is $230.62 and its 200-day simple moving average is $240.08. The stock has a market capitalization of $69.48 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.48 and a beta of 0.59. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced 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 net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the company 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 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed 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 is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's payout ratio is 36.98%.

Insiders Place Their Bets

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

Analyst Ratings Changes

RSG has been the topic of a number of recent analyst reports. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Oppenheimer increased their target price 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. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an "outperform" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a research report on Saturday, September 27th. Finally, BMO Capital Markets lifted their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $259.60.

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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