HB Wealth Management LLC Reduces Stock Holdings in Republic Services, Inc. $RSG

Key Points

• HB Wealth Management LLC reduced its holdings in Republic Services, Inc. by 20.1% during Q2, selling 5,725 shares for a total worth of approximately $5.6 million.
• Republic Services recently declared a quarterly dividend of $0.625 per share, up from the previous $0.58, with an annualized yield of 1.1%.
• Analysts' ratings on Republic Services are generally positive, with an average rating of "Moderate Buy" and a consensus target price of $260.58.

HB Wealth Management LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 20.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,748 shares of the business services provider's stock after selling 5,725 shares during the quarter. HB Wealth Management LLC's holdings in Republic Services were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. C WorldWide Group Holding A S purchased a new position in Republic Services during the 1st quarter worth $230,013,000. Nuveen LLC purchased a new stake in Republic Services during the 1st quarter valued at about $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider's stock valued at $427,009,000 after purchasing an additional 384,695 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Republic Services during the 1st quarter valued at about $63,910,000. Finally, Goldman Sachs Group Inc. grew its stake in Republic Services by 16.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,630,764 shares of the business services provider's stock valued at $394,906,000 after purchasing an additional 225,835 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank boosted their price target on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Barclays assumed coverage on Republic Services in a research note on Friday, September 19th. They set an "equal weight" rating and a $240.00 price target on the stock. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research note on Monday, June 9th. Stifel Nicolaus assumed coverage on Republic Services in a research note on Monday. They issued a "buy" rating and a $257.00 target price on the stock. Finally, Citigroup lowered their target price on Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $260.58.

Insider Buying and Selling

In related news, EVP Gregg Brummer sold 7,338 shares of the 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 completion of the transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of 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 position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Price Performance

RSG stock opened at $229.52 on Wednesday. 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. The firm has a market capitalization of $71.66 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during 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%.The business's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) 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.

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