Blue Trust Inc. Raises Stock Position in Republic Services, Inc. $RSG

Blue Trust Inc. boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,304 shares of the business services provider’s stock after purchasing an additional 263 shares during the period. Blue Trust Inc.’s holdings in Republic Services were worth $1,061,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake 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 purchasing an additional 106 shares during the period. Cranbrook Wealth Management LLC raised its stake 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 purchasing an additional 110 shares during the period. TCTC Holdings LLC raised its stake 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 purchasing an additional 66 shares during the period. Key Financial Inc raised its stake 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 purchasing an additional 99 shares during the period. Finally, Elequin Capital LP purchased a new position in Republic Services during the first quarter worth about $30,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of RSG opened at $225.16 on Friday. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm’s 50 day moving average price is $230.18 and its 200 day moving average price is $239.81. The company has a market cap of $70.30 billion, a P/E ratio of 33.31, a PEG ratio of 3.64 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share 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. This is a boost 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 (DPR) is presently 36.98%.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at $949,796.40. The trade was a 64.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the 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. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RSG. Stifel Nicolaus began coverage on shares of Republic Services in a research note on Monday, September 29th. They issued a “buy” rating and a $257.00 price target on the stock. Barclays began coverage on shares of Republic Services in a research note on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target on the stock. Raymond James Financial set a $260.00 price target on shares of Republic Services and gave the company an “outperform” rating in a research note on Monday, October 6th. Oppenheimer reduced their price target on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $258.85.

Republic Services Company 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.