2,700 Shares in Republic Services, Inc. $RSG Purchased by Lewis Asset Management LLC

Key Points

• Lewis Asset Management LLC has acquired 2,700 shares of Republic Services, valued at approximately $666,000, highlighting institutional interest in the company.
• Republic Services recently raised its quarterly dividend to $0.625 per share, representing an annualized dividend yield of 1.1% and reflecting positive financial performance.
• Wall Street analysts have set a consensus price target of $260.58 for Republic Services, with a majority rating it as a "Moderate Buy."

Lewis Asset Management LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,700 shares of the business services provider's stock, valued at approximately $666,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc lifted its stake 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 buying an additional 99 shares in the last quarter. TCTC Holdings LLC lifted its position in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services in the first quarter valued at $30,000. Finally, Atticus Wealth Management LLC acquired a new position in shares of Republic Services in the second quarter valued at about $39,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.3%

Shares of NYSE:RSG traded down $0.77 on Monday, hitting $226.17. 957,217 shares of the company's stock were exchanged, compared to its average volume of 1,047,020. The company has a market capitalization of $70.61 billion, a PE ratio of 33.46, a P/E/G ratio of 3.54 and a beta of 0.59. 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, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The firm's 50-day moving average is $234.18 and its 200 day moving average is $240.65.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business 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 $0.625 dividend. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. BMO Capital Markets increased their price objective on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial boosted their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Scotiabank upped their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $260.58.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction 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 sale, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

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.