Republic Services, Inc. $RSG Shares Sold by Accurate Wealth Management LLC

Key Points

• Accurate Wealth Management LLC significantly reduced its holdings in Republic Services, Inc. by 80.4%, now owning only 2,824 shares valued at approximately $678,000.
• Several major institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., increased their positions in Republic Services during the first quarter, indicating a positive sentiment towards the stock.
• Republic Services recently declared a quarterly dividend increase to $0.625 per share, reflecting a commitment to returning value to shareholders amidst strong quarterly earnings.

Accurate Wealth Management LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 80.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,824 shares of the business services provider's stock after selling 11,578 shares during the period. Accurate Wealth Management LLC's holdings in Republic Services were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after purchasing an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Republic Services by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock valued at $1,292,050,000 after acquiring an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock valued at $695,541,000 after acquiring an additional 119,158 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock valued at $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In related news, 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 purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction 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 the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup cut their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Melius assumed coverage on shares of Republic Services in a report on Monday, June 9th. They issued a "hold" rating on the stock. Raymond James Financial upped their price target on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Barclays initiated coverage on shares of Republic Services in a report on Friday, September 19th. They issued an "equal weight" rating and a $240.00 price target on the stock. Finally, Scotiabank boosted their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $260.58.

Republic Services Stock Down 0.0%

Republic Services stock opened at $227.50 on Thursday. The company has a 50-day simple moving average of $233.61 and a 200-day simple moving average of $240.47. The firm has a market capitalization of $71.03 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.55 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75.

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. The business had revenue of $4.24 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company 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 dividend of $0.625 per share. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's payout ratio is currently 34.32%.

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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