Republic Services, Inc. $RSG Shares Purchased by Gries Financial LLC

Gries Financial LLC raised its position in Republic Services, Inc. (NYSE:RSG) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,249 shares of the business services provider’s stock after buying an additional 46 shares during the period. Gries Financial LLC’s holdings in Republic Services were worth $308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings 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 valued at $4,543,231,000 after purchasing 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 valued at $1,438,237,000 after buying an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Republic Services by 0.3% in the first 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 buying an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Republic Services by 4.3% in 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 acquiring an additional 119,158 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Citigroup reduced their target price on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Melius initiated coverage on shares of Republic Services in a research note on Monday, June 9th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.58.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The stock was 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 of the company’s stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregg Brummer sold 7,338 shares of the firm’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 trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Republic Services Stock Up 0.5%

Republic Services stock opened at $227.32 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. The company has a 50-day simple moving average of $233.89 and a 200-day simple moving average of $240.56. The firm has a market capitalization of $70.97 billion, a P/E ratio of 33.63, a P/E/G ratio of 3.53 and a beta of 0.59.

Republic Services (NYSE:RSG) last posted its earnings results 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 net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business posted $1.61 EPS. Republic Services’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. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is 34.32%.

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.