IFP Advisors Inc Buys 569 Shares of Republic Services, Inc. $RSG

IFP Advisors Inc lifted its stake in Republic Services, Inc. (NYSE:RSG) by 33.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,264 shares of the business services provider’s stock after purchasing an additional 569 shares during the period. IFP Advisors Inc’s holdings in Republic Services were worth $558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. Brighton Jones LLC lifted its holdings in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after acquiring an additional 8,547 shares in the last quarter. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 3,503 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Republic Services by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 5,724 shares of the business services provider’s stock worth $1,386,000 after acquiring an additional 81 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock worth $279,000 after acquiring an additional 46 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Republic Services by 8.8% during the first quarter. Ritholtz Wealth Management now owns 7,650 shares of the business services provider’s stock worth $1,852,000 after acquiring an additional 616 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 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 $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 through this hyperlink. 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 acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the transaction, the insider 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 disclosure for this purchase can be found here. 0.11% of the stock is owned by insiders.

Republic Services Price Performance

NYSE:RSG opened at $224.59 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50-day simple moving average is $229.86 and its 200 day simple moving average is $239.60. The company has a market cap of $70.12 billion, a P/E ratio of 33.22, a P/E/G ratio of 3.61 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.

Republic Services (NYSE:RSG) last released its 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 business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.98%.

Wall Street Analyst Weigh In

RSG has been the topic of several recent analyst reports. Raymond James Financial set a $260.00 target price on Republic Services and gave the stock an “outperform” rating in a report on Monday, October 6th. Citigroup dropped their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Scotiabank set a $250.00 price target on Republic Services in a research note on Friday. Oppenheimer dropped their price target on Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $258.10.

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.