Wealth Enhancement Advisory Services LLC Has $65.13 Million Holdings in Republic Services, Inc. $RSG

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Republic Services, Inc. by 5.2% in Q2, now owning approximately 0.09% of the company valued at $65.1 million.
• Republic Services recently increased its quarterly dividend to $0.625 per share, up from the previous $0.58, representing a 1.1% yield.
• The company reported a 4.6% year-over-year revenue growth with revenue reaching $4.24 billion for the last quarter, although missing analyst estimates by $0.02 billion.

Wealth Enhancement Advisory Services LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,110 shares of the business services provider's stock after selling 14,934 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of Republic Services worth $65,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Key Financial Inc grew its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC grew its holdings in 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 acquiring an additional 66 shares in the last quarter. Elequin Capital LP acquired a new position in Republic Services during the 1st quarter worth $30,000. Finally, Atticus Wealth Management LLC acquired a new position in Republic Services during the 2nd quarter worth $39,000. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RSG. UBS Group set a $260.00 price objective on shares of Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. Melius started coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. BMO Capital Markets increased their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $260.58.

Republic Services Price Performance

Shares of Republic Services stock traded up $0.19 during midday trading on Friday, hitting $226.90. 1,968,166 shares of the company were exchanged, compared to its average volume of 1,007,804. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $234.54 and a 200-day simple moving average of $240.61. The firm has a market cap of $70.84 billion, a P/E ratio of 33.57, a PEG ratio of 3.54 and a beta of 0.59.

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, topping analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

Insider Activity

In related news, EVP Gregg Brummer sold 7,338 shares of the company'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 in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

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.