NewEdge Wealth LLC Purchases Shares of 17,922 Republic Services, Inc. $RSG

NewEdge Wealth LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,922 shares of the business services provider’s stock, valued at approximately $3,819,000.

Other large investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the 4th quarter worth approximately $25,000. Bell Investment Advisors Inc purchased a new stake in shares of Republic Services in the 2nd quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $26,000. Prosperity Bancshares Inc purchased a new stake in shares of Republic Services during the 4th quarter worth $30,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Republic Services during the fourth quarter worth $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of analyst reports. Citigroup raised their price target on Republic Services from $247.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Barclays increased their price objective on Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research note on Friday, May 8th. Finally, Morgan Stanley set a $232.00 price target on Republic Services in a report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.26.

Insider Buying and Selling

In other news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. The trade was a 96.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 261,664 shares of Republic Services stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $214.89 per share, with a total value of $56,228,976.96. Following the transaction, the insider owned 111,065,646 shares in the company, valued at $23,866,896,668.94. The trade was a 0.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 1,599,643 shares of company stock worth $346,519,404. Insiders own 0.12% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $219.58 on Friday. The stock’s 50-day moving average is $214.75 and its two-hundred day moving average is $215.01. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $237.06. The firm has a market cap of $67.24 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.62 and a beta of 0.40.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.04. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Analysts predict that Republic Services, Inc. will post 7.27 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is currently 35.41%.

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.