Oxbow Advisors LLC Decreases Stake in Republic Services, Inc. $RSG

Oxbow Advisors LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,381 shares of the business services provider’s stock after selling 1,076 shares during the quarter. Oxbow Advisors LLC’s holdings in Republic Services were worth $587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RSG. Ignite Planners LLC lifted its position in shares of Republic Services by 2.8% in the second quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 43 shares in the last quarter. Gries Financial LLC increased its stake in Republic Services by 3.8% in the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 46 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Republic Services by 17.8% in the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 46 shares during the last quarter. Hemington Wealth Management increased its stake in Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 47 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its stake in Republic Services by 2.1% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 48 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $217.95 on Friday. The firm has a market capitalization of $68.05 billion, a PE ratio of 32.24, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day moving average of $229.22 and a two-hundred day moving average of $239.30. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The firm’s revenue 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, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

Insider Transactions at Republic Services

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

Wall Street Analyst Weigh In

Several research firms recently commented on RSG. Oppenheimer dropped their target price on Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on Republic Services from $275.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday. Citigroup dropped their target price on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. UBS Group dropped their target price on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.10.

Republic Services Company 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.