Phoenix Financial Ltd. Acquires Shares of 2,499 Republic Services, Inc. $RSG

Key Points

• Phoenix Financial Ltd. acquired 2,499 shares of Republic Services, Inc., valued at approximately $616,000, during the second quarter.
• Insider activity included Gregg Brummer, EVP, selling 7,338 shares for over $1.7 million, representing a significant decrease in his ownership.
• Recent analysts' reports have set varied price targets for Republic Services, with a consensus rating of "Moderate Buy" and an average target price of $257.10.

Phoenix Financial Ltd. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,499 shares of the business services provider's stock, valued at approximately $616,000.

Several other institutional investors have also added to or reduced their stakes in the business. Princeton Global Asset Management LLC lifted its holdings in Republic Services by 6.4% during the second quarter. Princeton Global Asset Management LLC now owns 12,494 shares of the business services provider's stock valued at $3,081,000 after purchasing an additional 753 shares during the last quarter. Accretive Wealth Partners LLC lifted its holdings in Republic Services by 0.9% during the second quarter. Accretive Wealth Partners LLC now owns 11,989 shares of the business services provider's stock valued at $2,957,000 after purchasing an additional 102 shares during the last quarter. Stephens Inc. AR lifted its holdings in Republic Services by 2.9% during the second quarter. Stephens Inc. AR now owns 18,224 shares of the business services provider's stock valued at $4,494,000 after purchasing an additional 512 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Republic Services by 65.7% during the second quarter. Chicago Partners Investment Group LLC now owns 1,319 shares of the business services provider's stock valued at $321,000 after purchasing an additional 523 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its holdings in shares of Republic Services by 13.9% in the second quarter. Quotient Wealth Partners LLC now owns 1,649 shares of the business services provider's stock worth $407,000 after buying an additional 201 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Republic Services 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 directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services 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 transaction, the insider directly owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. The trade was 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 company insiders.

Republic Services Stock Up 1.1%

RSG stock opened at $223.26 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company's 50 day moving average is $228.14 and its 200 day moving average is $238.69. The stock has a market cap of $69.71 billion, a price-to-earnings ratio of 33.03, 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 data 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 company had revenue of $4.24 billion for 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%. Republic Services's revenue for the quarter 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. Sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RSG shares. Stifel Nicolaus started coverage on shares of Republic Services in a report on Monday, September 29th. They issued a "buy" rating and a $257.00 price target on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Services in a report on Wednesday, October 8th. Raymond James Financial set a $260.00 price target on shares of Republic Services and gave the stock an "outperform" rating in a report on Monday, October 6th. UBS Group lowered their price target on shares of Republic Services from $260.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, October 16th. Finally, National Bankshares lowered their price target on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $257.10.

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.

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