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

Key Points

• Moran Wealth Management LLC reduced its holdings in Republic Services, Inc. by 3.2%, owning 83,376 shares at the end of the second quarter, valued at $20.56 million.
• Several other institutional investors have significantly changed their positions, with one hedge fund increasing its stake by 3,533.3% in the first quarter.
• Republic Services announced a quarterly dividend increase to $0.625 per share, reflecting a boost from the previous dividend of $0.58, with a current yield of 1.1%.

Moran Wealth Management LLC lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,376 shares of the business services provider's stock after selling 2,757 shares during the quarter. Moran Wealth Management LLC's holdings in Republic Services were worth $20,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RSG. Golden State Wealth Management LLC increased its stake in Republic Services by 3,533.3% during 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. Capital Management Associates Inc acquired a new stake in shares of Republic Services during the first quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Republic Services during the first quarter worth $260,000. Finally, GAMMA Investing LLC raised its holdings in shares of Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after purchasing an additional 3,503 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm's 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 transaction, the executive vice president owned 4,060 shares of the company's stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RSG. Scotiabank set a $250.00 target price on shares of Republic Services in a report on Friday. UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Citigroup lowered their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Raymond James Financial set a $260.00 price objective on Republic Services and gave the stock an "outperform" rating in a report on Monday, October 6th. Finally, National Bankshares decreased their price objective on Republic Services from $270.00 to $241.00 and set a "sector perform" rating for the company in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $258.85.

Republic Services Stock Performance

Shares of RSG opened at $223.04 on Tuesday. The firm has a 50-day moving average price of $230.01 and a 200 day moving average price of $239.70. The firm has a market capitalization of $69.64 billion, a PE ratio of 32.99, a P/E/G ratio of 3.64 and a beta of 0.59. 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, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced 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 net margin of 12.97% and a return on equity of 18.27%. Republic Services's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal 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 given 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 a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 36.98%.

About Republic Services

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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