Transcend Capital Advisors LLC Takes Position in Republic Services, Inc. $RSG

Transcend Capital Advisors LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,109 shares of the business services provider’s stock, valued at approximately $274,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Republic Services by 1,222.2% in the second 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 in the last quarter. Key Financial Inc increased its position 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 worth $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC increased its position in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Finally, Elequin Capital LP purchased a new position in shares of Republic Services in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $210.24 on Friday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The business has a fifty day simple moving average of $226.17 and a 200 day simple moving average of $237.98. The firm has a market cap of $65.64 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 3.40 and a beta of 0.59. 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 (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 30th. The business services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is currently 36.98%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RSG. Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price for the company. Scotiabank set a $250.00 price target on Republic Services in a report on Friday, October 10th. National Bankshares lowered their price target 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. Oppenheimer lowered their price target on Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, UBS Group lowered their price target on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $257.10.

Insider Transactions at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.11% of the stock is owned by insiders.

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.