Republic Services, Inc. $RSG Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its position in Republic Services, Inc. (NYSE:RSG) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,968 shares of the business services provider’s stock after selling 451 shares during the quarter. Carnegie Investment Counsel’s holdings in Republic Services were worth $14,542,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Key Financial Inc increased its stake in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. TCTC Holdings LLC increased its stake in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Finally, Elequin Capital LP acquired a new stake in shares of Republic Services in the 1st quarter worth $30,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of Republic Services stock opened at $223.03 on Friday. The business has a 50-day moving average of $227.95 and a 200 day moving average of $238.64. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The stock has a market capitalization of $69.63 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 3.60 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.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.26 billion. During the same period last year, the business posted $1.61 EPS. Republic Services’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, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 36.98%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group cut 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, October 16th. Scotiabank set a $250.00 target price on Republic Services in a research note on Friday, October 10th. Citigroup cut 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. Oppenheimer lowered their price target on Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Stifel Nicolaus started coverage on Republic Services in a report on Monday, September 29th. They set a “buy” rating and a $257.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the transaction, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This trade 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 the SEC website. 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 directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.