Republic Services, Inc. $RSG Position Trimmed by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in Republic Services, Inc. by 2.8%, holding now 615,263 shares, which accounts for 1.1% of its portfolio.
• Several large investors, including GAMMA Investing LLC with an over 39,000% increase in their position, have recently modified their holdings of Republic Services.
• Republic Services announced an increase in its quarterly dividend to $0.625 per share, reflecting a positive change from its previous quarterly dividend of $0.58.

Gabelli Funds LLC trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 615,263 shares of the business services provider's stock after selling 17,934 shares during the period. Republic Services makes up about 1.1% of Gabelli Funds LLC's portfolio, making the stock its 8th largest holding. Gabelli Funds LLC owned 0.20% of Republic Services worth $148,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares in the last quarter. TCTC Holdings LLC grew its stake in Republic Services by 113.8% in the 1st 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 during the last quarter. Key Financial Inc boosted its stake 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 valued at $30,000 after purchasing an additional 99 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services during the first quarter worth $30,000. Finally, Cheviot Value Management LLC acquired a new stake in Republic Services in the first quarter worth $49,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RSG. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Scotiabank raised their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Raymond James Financial lifted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. 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. Based on data from MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $262.17.

Republic Services Stock Performance

Shares of RSG traded up $1.13 during mid-day trading on Friday, reaching $234.23. 875,330 shares of the company's stock were exchanged, compared to its average volume of 1,282,439. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week 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. The business's fifty day simple moving average is $238.94 and its 200-day simple moving average is $240.73. The stock has a market capitalization of $73.13 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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 firm 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%.Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced 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 yield of 1.1%. Republic Services's payout ratio is presently 34.32%.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the company's 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 sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. 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. acquired 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly 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 disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services 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.