Republic Services, Inc. $RSG Position Lessened by Sonora Investment Management Group LLC

Key Points

• Sonora Investment Management Group LLC has reduced its position in Republic Services, Inc. by 1.9%, now holding 124,535 shares worth approximately $30.7 million.
• Republic Services has reported a 4.6% year-over-year revenue increase with a quarterly revenue of $4.24 billion and an EPS of $1.77, slightly above analyst estimates.
• The company announced an increase in its quarterly dividend to $0.625, representing an annualized dividend of $2.50 and a yield of 1.1%.

Sonora Investment Management Group LLC reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 124,535 shares of the business services provider's stock after selling 2,352 shares during the period. Republic Services comprises approximately 2.3% of Sonora Investment Management Group LLC's holdings, making the stock its 10th biggest holding. Sonora Investment Management Group LLC's holdings in Republic Services were worth $30,712,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. SFM LLC grew its position in shares of Republic Services by 53.2% in the second quarter. SFM LLC now owns 6,158 shares of the business services provider's stock valued at $1,519,000 after purchasing an additional 2,139 shares during the period. Eastover Investment Advisors LLC boosted its stake in Republic Services by 0.3% in the 2nd quarter. Eastover Investment Advisors LLC now owns 32,894 shares of the business services provider's stock worth $8,112,000 after buying an additional 104 shares during the last quarter. Signaturefd LLC increased its stake in shares of Republic Services by 2.1% during the 2nd quarter. Signaturefd LLC now owns 8,247 shares of the business services provider's stock valued at $2,034,000 after acquiring an additional 170 shares during the last quarter. First American Bank lifted its holdings in shares of Republic Services by 0.6% during the 2nd quarter. First American Bank now owns 34,471 shares of the business services provider's stock worth $8,501,000 after acquiring an additional 191 shares during the period. Finally, ORG Partners LLC boosted its position in shares of Republic Services by 1,187.9% in the second quarter. ORG Partners LLC now owns 850 shares of the business services provider's stock worth $208,000 after acquiring an additional 784 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $228.31 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The company has a market capitalization of $71.28 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.56 and a beta of 0.59. The business has a 50-day moving average of $233.11 and a 200-day moving average of $240.47.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS 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 firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the company posted $1.61 EPS. Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed 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 dividend payout ratio (DPR) is presently 34.32%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This represents 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 owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RSG. BMO Capital Markets increased their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Scotiabank increased their target price on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. 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 research report on Tuesday, July 22nd. UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.58.

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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