Janney Montgomery Scott LLC Cuts Position in Republic Services, Inc. $RSG

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Republic Services, Inc. by 11.7%, owning 55,632 shares after selling 7,407 shares in the second quarter.
• Republic Services recently reported a net margin of 12.97% and a year-over-year revenue increase of 4.6%, while setting its FY 2025 earnings guidance at $6.820-$6.900 EPS.
• The company has increased its quarterly dividend to $0.625 per share, reflecting a 1.1% yield, up from the previous $0.58 per share dividend.

Janney Montgomery Scott LLC cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 11.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,632 shares of the business services provider's stock after selling 7,407 shares during the period. Janney Montgomery Scott LLC's holdings in Republic Services were worth $13,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC grew its stake in shares of Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after buying an additional 46 shares during the last quarter. Gries Financial LLC raised its stake in shares of Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider's stock valued at $308,000 after acquiring an additional 46 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Republic Services by 17.8% during the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider's stock worth $75,000 after purchasing an additional 46 shares during the period. Hemington Wealth Management grew its stake in shares of Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after purchasing an additional 47 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in Republic Services by 2.1% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider's stock valued at $589,000 after purchasing an additional 48 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.7%

Shares of NYSE RSG opened at $224.14 on Friday. The firm's 50 day moving average price is $231.45 and its 200-day moving average price is $240.20. The company has a market cap of $69.98 billion, a PE ratio of 33.16, a P/E/G ratio of 3.47 and a beta of 0.59. 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 quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion for 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 firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 EPS for the current fiscal 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's payout ratio is currently 36.98%.

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 shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider 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 disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RSG. BMO Capital Markets boosted their price target on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. UBS Group set a $260.00 price target on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Stifel Nicolaus began coverage on Republic Services in a report on Monday. They set a "buy" rating and a $257.00 price target on the stock. Raymond James Financial boosted their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Citigroup reduced their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $260.58.

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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