GC Wealth Management RIA LLC Acquires Shares of 2,499 Republic Services, Inc. $RSG

Key Points

• GC Wealth Management RIA LLC has acquired 2,499 shares of Republic Services, Inc., valued at approximately $616,000, indicating growing interest from institutional investors in the company's stock.
• Republic Services has reported a quarterly EPS of $1.77 for the last reporting period, which slightly exceeds analysts' estimates, while revenue saw a 4.6% increase year-over-year.
• The company has announced an increase in its quarterly dividend to $0.625 per share, reflecting strong financial performance and a commitment to returning value to shareholders.

GC Wealth Management RIA LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,499 shares of the business services provider's stock, valued at approximately $616,000.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised 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 purchasing an additional 106 shares during the period. Cranbrook Wealth Management LLC raised its position in Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after purchasing an additional 110 shares during the period. Key Financial Inc raised 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 purchasing an additional 99 shares during the period. TCTC Holdings LLC raised 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 purchasing an additional 66 shares during the period. Finally, Elequin Capital LP purchased a new position in Republic Services in the first quarter valued at about $30,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.2%

NYSE:RSG opened at $229.52 on Wednesday. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The firm has a market capitalization of $71.66 billion, a P/E ratio of 33.95, a P/E/G ratio of 3.57 and a beta of 0.59. 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 has a 50 day simple moving average of $232.64 and a 200 day simple moving average of $240.45.

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

Republic Services Increases Dividend

The business 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 dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. 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. Republic Services's payout ratio is presently 34.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSG. Citigroup dropped their target price on Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Raymond James Financial lifted their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Barclays began coverage on Republic Services in a research report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price on the stock. Finally, Oppenheimer lifted their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $260.58.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

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.

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