Marks Group Wealth Management Inc Has $20.55 Million Position in Republic Services, Inc. $RSG

Key Points

• Marks Group Wealth Management Inc reduced its stake in Republic Services by 2.4% to hold 83,337 shares, which are currently valued at approximately $20.55 million, making it the firm's fifth-largest position.
• Republic Services has announced a quarterly dividend increase from $0.58 to $0.625 per share, payable on October 15th, with a current yield of 1.1%.
• Recent analyst ratings show a consensus target price for Republic Services at $260.58, with the stock rated as "Moderate Buy" by analysts.

Marks Group Wealth Management Inc cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,337 shares of the business services provider's stock after selling 2,041 shares during the period. Republic Services accounts for about 1.9% of Marks Group Wealth Management Inc's investment portfolio, making the stock its 5th biggest position. Marks Group Wealth Management Inc's holdings in Republic Services were worth $20,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Elevation Point Wealth Partners LLC raised its stake in shares of Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after acquiring 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 worth $308,000 after buying an additional 46 shares during the last quarter. TD Private Client Wealth LLC raised its stake 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 buying an additional 46 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after buying an additional 47 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its stake in shares of Republic Services by 2.1% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider's stock worth $589,000 after buying an additional 48 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 of the company's stock, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction on Friday, August 22nd. The stock was 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 of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RSG. Weiss Ratings restated a "buy (b)" rating on shares of Republic Services in a report on Saturday, September 27th. BMO Capital Markets boosted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial boosted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Scotiabank boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $260.58.

Republic Services Stock Up 0.7%

Republic Services stock opened at $224.14 on Monday. The stock has a market capitalization of $69.98 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $231.45 and a 200-day moving average of $240.28.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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 anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio is currently 36.98%.

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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