Republic Services, Inc. $RSG Holdings Reduced by DB Fitzpatrick & Co Inc

Key Points

• DB Fitzpatrick & Co Inc reduced its holdings in Republic Services by 25.3% in the second quarter, owning 9,070 shares worth approximately $2.24 million after selling 3,072 shares.
• Insider activity includes major shareholder Cascade Investment, L.L.C. purchasing 4,258 shares valued at over $1 million while EVP Gregg Brummer sold 7,338 shares, representing a 64.38% decrease in his position.
• Republic Services declared a quarterly dividend of $0.625 per share, reflecting a increase from the previous dividend of $0.58, with a yield of 1.1%.

DB Fitzpatrick & Co Inc lowered its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 25.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,070 shares of the business services provider's stock after selling 3,072 shares during the quarter. Republic Services accounts for about 2.0% of DB Fitzpatrick & Co Inc's investment portfolio, making the stock its 6th biggest holding. DB Fitzpatrick & Co Inc's holdings in Republic Services were worth $2,237,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings 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 acquiring an additional 8,547 shares during the last quarter. GTS Securities LLC lifted its position in Republic Services by 4.9% during the fourth quarter. GTS Securities LLC now owns 1,487 shares of the business services provider's stock valued at $299,000 after purchasing an additional 69 shares during the period. Toronto Dominion Bank grew its position in Republic Services by 7.3% in the 4th quarter. Toronto Dominion Bank now owns 113,252 shares of the business services provider's stock worth $22,784,000 after purchasing an additional 7,735 shares during the period. Ascent Group LLC raised its stake in Republic Services by 7.4% during the 4th quarter. Ascent Group LLC now owns 4,865 shares of the business services provider's stock valued at $979,000 after buying an additional 336 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in shares of Republic Services by 4.2% during the 4th quarter. Integrated Advisors Network LLC now owns 1,571 shares of the business services provider's stock valued at $316,000 after buying an additional 63 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction 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 acquisition, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on RSG shares. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. 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. Scotiabank raised their price objective on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Finally, Melius started coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus price target of $260.58.

Republic Services Stock Performance

NYSE:RSG opened at $227.32 on Wednesday. The stock has a 50-day moving average price of $233.89 and a 200 day moving average price of $240.56. The stock has a market capitalization of $70.97 billion, a P/E ratio of 33.63, a P/E/G ratio of 3.53 and a beta of 0.59. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. 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 posted its quarterly 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. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS 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. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 34.32%.

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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