Bogart Wealth LLC Trims Stock Holdings in Republic Services, Inc. $RSG

Bogart Wealth LLC lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 63.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,684 shares of the business services provider’s stock after selling 33,940 shares during the quarter. Bogart Wealth LLC’s holdings in Republic Services were worth $4,854,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Princeton Global Asset Management LLC raised its stake in shares of Republic Services by 6.4% during the second quarter. Princeton Global Asset Management LLC now owns 12,494 shares of the business services provider’s stock worth $3,081,000 after purchasing an additional 753 shares during the last quarter. Accretive Wealth Partners LLC raised its stake in shares of Republic Services by 0.9% during the second quarter. Accretive Wealth Partners LLC now owns 11,989 shares of the business services provider’s stock worth $2,957,000 after purchasing an additional 102 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Republic Services by 2.9% during the second quarter. Stephens Inc. AR now owns 18,224 shares of the business services provider’s stock worth $4,494,000 after purchasing an additional 512 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Republic Services by 65.7% during the second quarter. Chicago Partners Investment Group LLC now owns 1,319 shares of the business services provider’s stock worth $321,000 after purchasing an additional 523 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in shares of Republic Services by 13.9% during the second quarter. Quotient Wealth Partners LLC now owns 1,649 shares of the business services provider’s stock worth $407,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.7%

Republic Services stock opened at $219.87 on Monday. 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 firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The stock’s fifty day moving average is $228.91 and its two-hundred day moving average is $239.03.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets upped their price target on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Oppenheimer dropped their price objective on Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Citigroup dropped their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Stifel Nicolaus started coverage on Republic Services in a report on Monday, September 29th. They set a “buy” rating and a $257.00 price objective on the stock. Finally, Scotiabank set a $250.00 price objective on Republic Services in a report on Friday, October 10th. 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 stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $257.10.

Insiders Place Their Bets

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

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.