Ritholtz Wealth Management Buys 2,061 Shares of Republic Services, Inc. $RSG

Key Points

• Ritholtz Wealth Management increased its stake in Republic Services, purchasing an additional 2,061 shares for a total of 9,711 shares, valued at approximately $2.4 million.
• Several institutional investors have also raised their stakes in Republic Services, showing growing confidence, with Brighton Jones LLC increasing its position by 75.8%.
• Republic Services recently increased its quarterly dividend from $0.58 to $0.625 per share, resulting in a yield of 1.1% and a dividend payout ratio of 36.98%.

Ritholtz Wealth Management boosted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 26.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,711 shares of the business services provider's stock after buying an additional 2,061 shares during the quarter. Ritholtz Wealth Management's holdings in Republic Services were worth $2,395,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RSG. Brighton Jones LLC grew its position in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the period. GAMMA Investing LLC grew its position in Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after buying an additional 3,503 shares during the period. Sowell Financial Services LLC bought a new position in Republic Services during the first quarter valued at about $260,000. Sagespring Wealth Partners LLC grew its position in Republic Services by 22.7% during the first quarter. Sagespring Wealth Partners LLC now owns 1,580 shares of the business services provider's stock valued at $383,000 after buying an additional 292 shares during the period. Finally, Wolf Group Capital Advisors purchased a new stake in Republic Services during the first quarter valued at about $229,000. Institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

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

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on shares of Republic Services in a report on Monday, September 29th. They set a "buy" rating and a $257.00 price objective on the stock. UBS Group dropped their price objective on shares of Republic Services from $260.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a report on Wednesday, October 8th. Scotiabank set a $250.00 price objective on shares of Republic Services in a report on Friday, October 10th. Finally, National Bankshares dropped their price objective on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $257.10.

Republic Services Price Performance

RSG stock opened at $217.95 on Friday. The firm has a 50 day moving average of $229.22 and a 200-day moving average of $239.30. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The firm has a market capitalization of $68.05 billion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the business earned $1.61 earnings per share. Republic Services's revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd were given a dividend of $0.625 per share. The ex-dividend date was Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

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.