Wilmington Savings Fund Society FSB Increases Stake in Republic Services, Inc. $RSG

Wilmington Savings Fund Society FSB raised its position in Republic Services, Inc. (NYSE:RSG) by 4.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,155 shares of the business services provider’s stock after purchasing an additional 289 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Republic Services were worth $1,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Republic Services by 61.6% during the 1st 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 during the period. Assenagon Asset Management S.A. raised its holdings in shares of Republic Services by 1.4% during the 1st 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 during the period. Sowell Financial Services LLC acquired a new position in Republic Services in the 1st quarter valued at about $260,000. Finally, Sagespring Wealth Partners LLC boosted its holdings in Republic Services by 22.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 1,580 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Republic Services Price Performance

Republic Services stock opened at $220.91 on Thursday. The company’s 50 day simple moving average is $229.57 and its 200-day simple moving average is $239.47. The company has a market capitalization of $68.97 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. 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 announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 36.98%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RSG shares. JPMorgan Chase & Co. decreased their target price on shares of Republic Services from $275.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. BMO Capital Markets boosted their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Scotiabank set a $250.00 price target on shares of Republic Services in a research note on Friday, October 10th. Finally, National Bankshares reduced their price target on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $258.10.

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.