Trueblood Wealth Management LLC Increases Stock Position in Republic Services, Inc. $RSG

Trueblood Wealth Management LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,785 shares of the business services provider’s stock after purchasing an additional 288 shares during the quarter. Republic Services comprises 1.1% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Trueblood Wealth Management LLC’s holdings in Republic Services were worth $2,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Golden State Wealth Management LLC grew its holdings in shares of 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 last quarter. Cranbrook Wealth Management LLC lifted its position in 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 during the period. TCTC Holdings LLC grew its stake in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Key Financial Inc increased its holdings in shares of Republic Services by 380.8% in 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 during the period. Finally, Elequin Capital LP purchased a new stake in shares of Republic Services during the first quarter worth approximately $30,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.5%

Shares of RSG opened at $223.03 on Tuesday. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.63 billion, a P/E ratio of 32.99, a PEG ratio of 3.50 and a beta of 0.59. The firm’s 50-day moving average is $231.08 and its two-hundred day moving average is $240.21.

Republic Services (NYSE:RSG) last posted its quarterly 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. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. 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 (DPR) is presently 36.98%.

Insiders Place Their Bets

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated 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 transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RSG. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the company an “outperform” rating in a research report on Monday. Scotiabank lifted their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Friday, July 18th. Citigroup dropped their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Melius started coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a “hold” rating for the company. Finally, Barclays initiated coverage on Republic Services in a research report on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $260.58.

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.