Triasima Portfolio Management inc. Boosts Position in Republic Services, Inc. $RSG

Key Points

• Triasima Portfolio Management inc. increased its holdings in Republic Services, Inc. by 8.8% during the second quarter, bringing its total to 19,846 shares valued at approximately $4.89 million.
• Several institutional investors, including Golden State Wealth Management LLC and Cranbrook Wealth Management LLC, significantly boosted their stakes in Republic Services, highlighting growing confidence in the company.
• Republic Services has declared a $0.625 quarterly dividend, up from the previous dividend of $0.58, with a payout ratio of 36.98%.

Triasima Portfolio Management inc. increased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,846 shares of the business services provider's stock after purchasing an additional 1,611 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Republic Services were worth $4,894,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased 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 during the period. Cranbrook Wealth Management LLC increased its position in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after buying an additional 110 shares during the period. TCTC Holdings LLC increased its position in Republic Services by 113.8% during the first 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 period. Key Financial Inc increased 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 worth $30,000 after buying an additional 99 shares during the period. Finally, Elequin Capital LP acquired a new position in Republic Services during the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on RSG shares. Citigroup cut their price target on Republic Services from $280.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a research report on Saturday, September 27th. Barclays began coverage on Republic Services in a report on Friday, September 19th. They issued an "equal weight" rating and a $240.00 target price on the stock. UBS Group set a $260.00 target price on Republic Services and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Scotiabank boosted their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $259.60.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, for a total transaction 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. The trade was a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Stock Down 0.3%

RSG opened at $222.53 on Wednesday. The business's fifty day moving average is $230.62 and its two-hundred day moving average is $240.08. 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 company has a market cap of $69.48 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.48 and a beta of 0.59. 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 issued its quarterly earnings data 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. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the business earned $1.61 earnings per share. The business's revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. 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 dividend payout ratio (DPR) 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.

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.