Gamco Investors INC. ET AL Has $123.74 Million Position in Republic Services, Inc. $RSG

Key Points

• Gamco Investors INC. ET AL reduced its stake in Republic Services by 4.0%, selling 21,202 shares and holding 510,991 shares as of the latest filing.
• Several hedge funds have modified their positions in Republic Services, with institutional ownership at 57.73% of the stock.
• Republic Services recently declared a quarterly dividend increase to $0.625 per share, effective on October 15th, which boosts the annualized yield to 1.1%.

Gamco Investors INC. ET AL cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,991 shares of the business services provider's stock after selling 21,202 shares during the period. Republic Services comprises approximately 1.4% of Gamco Investors INC. ET AL's holdings, making the stock its 8th largest holding. Gamco Investors INC. ET AL owned approximately 0.16% of Republic Services worth $123,742,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Republic Services by 11.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,439 shares of the business services provider's stock valued at $1,094,000 after purchasing an additional 569 shares during the period. Coldstream Capital Management Inc. raised its stake in Republic Services by 54.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,119 shares of the business services provider's stock worth $1,030,000 after buying an additional 1,799 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Republic Services during the 4th quarter worth $7,917,000. Finally, Beacon Pointe Advisors LLC raised its stake in Republic Services by 2.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 4,663 shares of the business services provider's stock worth $938,000 after buying an additional 107 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RSG shares. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research note on Monday, June 9th. Melius started coverage on Republic Services in a research note on Monday, June 9th. They issued a "hold" rating on the stock. BMO Capital Markets raised their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Scotiabank raised their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Finally, Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business's stock in a transaction dated 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Price Performance

Shares of NYSE RSG traded up $1.13 during midday trading on Friday, reaching $234.23. The company's stock had a trading volume of 875,330 shares, compared to its average volume of 1,282,439. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The company has a market cap of $73.13 billion, a P/E ratio of 34.65, a P/E/G ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The business's 50 day moving average price is $238.94 and its two-hundred day moving average price is $240.73.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate 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%. The company's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is currently 34.32%.

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.