Republic Services, Inc. $RSG Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,854 shares of the business services provider’s stock after purchasing an additional 2,680 shares during the quarter. NewEdge Wealth LLC’s holdings in Republic Services were worth $1,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. ICONIQ Capital LLC grew its position in shares of Republic Services by 3.3% during the 2nd quarter. ICONIQ Capital LLC now owns 1,558 shares of the business services provider’s stock valued at $384,000 after buying an additional 50 shares during the last quarter. Prospera Financial Services Inc boosted its stake in Republic Services by 1.1% in the third quarter. Prospera Financial Services Inc now owns 4,766 shares of the business services provider’s stock valued at $1,094,000 after acquiring an additional 51 shares during the period. Composition Wealth LLC grew its holdings in shares of Republic Services by 1.4% during the fourth quarter. Composition Wealth LLC now owns 3,793 shares of the business services provider’s stock valued at $804,000 after purchasing an additional 52 shares during the last quarter. Florida Trust Wealth Management Co raised its position in shares of Republic Services by 5.4% during the 3rd quarter. Florida Trust Wealth Management Co now owns 1,050 shares of the business services provider’s stock worth $241,000 after purchasing an additional 54 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC boosted its position in Republic Services by 0.9% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 6,069 shares of the business services provider’s stock valued at $1,393,000 after purchasing an additional 54 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. The trade was a 0.33% 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. Insiders have purchased a total of 499,150 shares of company stock worth $100,527,357 in the last quarter. 0.12% of the stock is owned by company insiders.

Republic Services Price Performance

Shares of RSG opened at $203.66 on Thursday. Republic Services, Inc. has a one year low of $196.41 and a one year high of $258.75. The stock’s fifty day moving average is $215.61 and its 200-day moving average is $215.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.64 and a current ratio of 0.67. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.33 and a beta of 0.43.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 36.15%.

Republic Services News Roundup

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade Investment, L.L.C., Republic Services’ major shareholder, bought three separate blocks of stock over the last few days, including a 366,000-share purchase at $202.24 and additional buys of 55,000 and 78,150 shares. Large insider buying is often viewed as a sign of confidence in the company’s outlook. SEC filing for Cascade Investment purchases
• Positive Sentiment: A Zacks piece highlighted Republic Services as a long-term growth name, pointing to the company’s appeal as a steady operator with growth characteristics. Zacks article on RSG long-term growth
• Neutral Sentiment: A Yahoo Finance-linked deep dive said first-quarter pricing gains, digital investments, and acquisitions helped offset flat volumes, suggesting Republic’s core business remains resilient but volume growth is still muted. RSG Q1 Deep Dive article
• Negative Sentiment: Argus Research downgraded Republic Services to Hold, and related coverage noted the stock hit a new 1-year low after the downgrade. That analyst move likely weighed on shares and reflects more cautious near-term sentiment. Argus downgrades Republic Services

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer dropped their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Scotiabank lowered their price target on shares of Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. Barclays increased their price objective on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday. Morgan Stanley reduced their target price on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company raised their price target on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $245.15.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.