Ascent Group LLC Acquires 13,068 Shares of Republic Services, Inc. $RSG

Key Points

• Ascent Group LLC increased its stake in Republic Services by 268.6% during the first quarter, now holding 17,933 shares worth approximately $4.34 million.
• Republic Services declared a quarterly dividend of $0.625 per share, reflecting a boost from the previous dividend and resulting in an annualized yield of 1.1%.
• The company's stock at NYSE:RSG has shown a twelve-month performance range between $197.60 and $258.75, with the current price at $227.98.

Ascent Group LLC lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 268.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,933 shares of the business services provider's stock after purchasing an additional 13,068 shares during the quarter. Ascent Group LLC's holdings in Republic Services were worth $4,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Key Financial Inc boosted its holdings in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares during the period. TCTC Holdings LLC grew its position in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services in the 1st quarter valued at $30,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Republic Services in the 4th quarter worth about $44,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Melius started coverage on Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. BMO Capital Markets increased their target price on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. UBS Group set a $260.00 target price on Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Performance

Republic Services stock traded down $3.75 during midday trading on Friday, reaching $228.46. The stock had a trading volume of 891,769 shares, compared to its average volume of 1,269,885. 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 firm has a market capitalization of $71.33 billion, a PE ratio of 33.80, a P/E/G ratio of 3.57 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 firm's 50-day moving average price is $236.19 and its 200 day moving average price is $240.94.

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 (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share 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. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend 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 presently 34.32%.

Insider Transactions at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were purchased at an average cost 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 in the company, 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. Corporate insiders own 0.11% of the company's stock.

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.