Park Place Capital Corp Cuts Stake in Republic Services, Inc. $RSG

Park Place Capital Corp reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 88.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 242 shares of the business services provider’s stock after selling 1,784 shares during the quarter. Park Place Capital Corp’s holdings in Republic Services were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Investment Advisors LLC lifted its holdings in Republic Services by 2.1% in the second quarter. Capital Investment Advisors LLC now owns 10,207 shares of the business services provider’s stock valued at $2,517,000 after acquiring an additional 210 shares during the period. Archford Capital Strategies LLC lifted its holdings in Republic Services by 4.5% in the second quarter. Archford Capital Strategies LLC now owns 1,288 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 55 shares during the period. GC Wealth Management RIA LLC purchased a new stake in Republic Services in the second quarter worth about $616,000. Global Trust Asset Management LLC increased its position in Republic Services by 133.3% in the second quarter. Global Trust Asset Management LLC now owns 1,400 shares of the business services provider’s stock worth $345,000 after buying an additional 800 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV purchased a new stake in Republic Services in the second quarter worth about $213,000. 57.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on RSG shares. Barclays started coverage on Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. Melius started coverage on Republic Services in a research report on Monday, June 9th. They issued a “hold” rating for the company. UBS Group set a $260.00 price target on Republic Services and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Raymond James Financial upped their price target on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Oppenheimer increased their target price on Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Two equities research 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 stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $260.58.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the acquisition, the insider directly 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. Company insiders own 0.11% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $229.52 on Wednesday. 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 stock has a 50-day moving average price of $232.64 and a 200 day moving average price of $240.45. The stock has a market capitalization of $71.66 billion, a P/E ratio of 33.95, a P/E/G ratio of 3.57 and a beta of 0.59.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 18.27% and a net margin of 12.97%.The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio (DPR) is 34.32%.

Republic Services 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.