Princeton Global Asset Management LLC Has $3.08 Million Stake in Republic Services, Inc. $RSG

Princeton Global Asset Management LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,494 shares of the business services provider’s stock after buying an additional 753 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Republic Services were worth $3,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 purchasing an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in shares of Republic Services during the first quarter worth about $314,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock worth $136,397,000 after purchasing an additional 4,110 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Republic Services during the first quarter worth about $260,000. Finally, GAMMA Investing LLC grew its holdings in shares of Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock worth $2,226,000 after purchasing an additional 3,503 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Republic Services stock opened at $219.87 on Monday. The stock has a market capitalization of $68.65 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The stock’s 50 day moving average price is $228.91 and its two-hundred day moving average price is $239.03. 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 (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, topping analysts’ consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion for 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 company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd were given a dividend of $0.625 per share. The ex-dividend date of this dividend was 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 dividend yield of 1.1%. Republic Services’s payout ratio is currently 36.98%.

Insider Buying and Selling

In other news, EVP Gregg Brummer sold 7,338 shares of the company’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 transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This trade 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RSG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. Scotiabank set a $250.00 target price on Republic Services in a report on Friday, October 10th. National Bankshares reduced their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their target price on Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, UBS Group reduced their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.10.

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.