Simplicity Wealth LLC Acquires 3,906 Shares of Republic Services, Inc. $RSG

Key Points

• Simplicity Wealth LLC increased its stake in Republic Services by 88.1%, acquiring an additional 3,906 shares, bringing its total holdings to 8,340 shares valued at approximately $2,057,000.
• Major shareholder Cascade Investment purchased 4,258 shares at $234.91 each, increasing their total holdings to 109,816,832 shares, while EVP Gregg Brummer sold 7,338 shares, reducing his holdings by 64.38%.
• Republic Services announced a quarterly dividend increase to $0.625 per share, reflecting a positive change from the previous $0.58 dividend, indicating a healthy dividend payout ratio of 36.98%.

Simplicity Wealth LLC lifted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 88.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,340 shares of the business services provider's stock after acquiring an additional 3,906 shares during the period. Simplicity Wealth LLC's holdings in Republic Services were worth $2,057,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC grew its position 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 worth $26,000 after buying an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Key Financial Inc raised its position 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 purchasing an additional 99 shares in the last quarter. TCTC Holdings LLC lifted its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Finally, Elequin Capital LP acquired a new stake in shares of Republic Services in the 1st quarter valued at approximately $30,000. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Oppenheimer increased their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Citigroup reduced their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Services in a report on Saturday, September 27th. UBS Group set a $260.00 target price on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus began coverage on shares of Republic Services in a research note on Monday, September 29th. They set a "buy" rating and a $257.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $260.58.

Republic Services Stock Up 0.7%

Republic Services stock opened at $224.14 on Monday. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm's 50-day simple moving average is $231.45 and its 200 day simple moving average is $240.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $69.98 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Research analysts predict that Republic Services, Inc. will post 6.86 EPS 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. Shareholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's dividend payout ratio is presently 36.98%.

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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