Level Four Advisory Services LLC Cuts Position in Republic Services, Inc. $RSG

Key Points

• Level Four Advisory Services LLC decreased its stake in Republic Services by 15.2%, holding 26,795 shares worth approximately $6.49 million at the end of the quarter.
• Republic Services recently declared a quarterly dividend of $0.625, increasing from the previous $0.58, with a payout date set for October 15th.
• Citi and Oppenheimer elevated their price targets for Republic Services to $278 and $268 respectively, indicating strong market confidence with a consensus "Moderate Buy" rating.

Level Four Advisory Services LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,795 shares of the business services provider's stock after selling 4,816 shares during the period. Level Four Advisory Services LLC's holdings in Republic Services were worth $6,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RSG. Brighton Jones LLC grew its position in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Natixis grew its position in shares of Republic Services by 259.2% during the 4th quarter. Natixis now owns 9,782 shares of the business services provider's stock valued at $1,968,000 after purchasing an additional 7,059 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Republic Services by 1.6% during the 4th quarter. MML Investors Services LLC now owns 19,405 shares of the business services provider's stock worth $3,904,000 after acquiring an additional 314 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Republic Services by 120.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,839 shares of the business services provider's stock worth $3,589,000 after acquiring an additional 9,745 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Republic Services by 5.0% during the 4th quarter. Hsbc Holdings PLC now owns 579,379 shares of the business services provider's stock worth $116,456,000 after acquiring an additional 27,453 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Scotiabank lifted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. BMO Capital Markets lifted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Melius initiated coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. Finally, UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Trading Down 0.6%

Shares of RSG stock traded down $1.3090 during mid-day trading on Friday, reaching $234.1310. The stock had a trading volume of 1,183,937 shares, compared to its average volume of 1,364,523. The stock's 50-day moving average price is $240.12 and its two-hundred day moving average price is $240.39. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The firm has a market capitalization of $73.10 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts expect 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. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is presently 34.32%.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

Republic Services Company 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.