Republic Services, Inc. $RSG Shares Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC increased its stake in Republic Services, Inc. by 6.3% in Q2, now owning 19,063 shares valued at approximately $4.7 million.
• Republic Services announced a quarterly dividend of $0.625, increasing from the previous $0.58, with a yield of 1.1% for shareholders of record on October 2nd.
• The company reported earnings of $1.77 per share in its last quarter, surpassing analysts' estimates, while projecting FY 2025 EPS guidance between 6.820 and 6.900.

Ascent Group LLC lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,063 shares of the business services provider's stock after purchasing an additional 1,130 shares during the quarter. Ascent Group LLC's holdings in Republic Services were worth $4,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. TCTC Holdings LLC increased its stake in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Key Financial Inc increased its stake in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Finally, Elequin Capital LP acquired a new stake in Republic Services during the first quarter worth $30,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 completion of the transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value 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 disclosure for this purchase can be found here. Company insiders own 0.11% of the company's stock.

Republic Services Trading Up 0.7%

RSG opened at $224.14 on Friday. The firm has a market cap of $69.98 billion, a P/E ratio of 33.16, a P/E/G ratio of 3.47 and a beta of 0.59. The business has a fifty day simple moving average of $231.45 and a 200-day simple moving average of $240.20. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week 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.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion during 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%.Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 36.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RSG shares. Citigroup cut their target price on Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Services in a research note on Saturday, September 27th. Barclays started coverage on Republic Services in a research note on Friday, September 19th. They set an "equal weight" rating and a $240.00 target price for the company. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Melius started coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Republic Services has an average 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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