Republic Services, Inc. $RSG Stake Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,352 shares of the business services provider's stock after selling 5,603 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Republic Services were worth $13,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RSG. Vanguard Group Inc. grew its position in Republic Services by 0.9% in 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 buying an additional 170,548 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Republic Services by 0.7% during the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after acquiring an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Republic Services by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Republic Services by 4.3% during 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 purchasing an additional 119,158 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Republic Services by 12.4% in the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock valued at $494,930,000 after purchasing an additional 224,867 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on RSG. Scotiabank set a $250.00 target price on shares of Republic Services in a report on Friday. Stifel Nicolaus initiated coverage on shares of Republic Services in a research report on Monday, September 29th. They issued a "buy" rating and a $257.00 price target for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Services in a research report on Wednesday, October 8th. Oppenheimer reduced their target price on Republic Services from $268.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. Finally, Citigroup lowered their price target on Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.85.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Republic Services Trading Down 0.9%

Shares of NYSE:RSG opened at $223.04 on Tuesday. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month 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. The firm has a market capitalization of $69.64 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.59. The firm has a fifty day moving average of $230.01 and a two-hundred day moving average of $239.70.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business'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 expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 36.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.