Carnegie Lake Advisors LLC Sells 500 Shares of Republic Services, Inc. $RSG

Carnegie Lake Advisors LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the business services provider’s stock after selling 500 shares during the period. Carnegie Lake Advisors LLC’s holdings in Republic Services were worth $1,134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of Republic Services by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock valued at $116,048,000 after purchasing an additional 43,387 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Republic Services in the 1st quarter valued at approximately $22,078,000. Ascent Group LLC increased its position in Republic Services by 6.3% in the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after buying an additional 1,130 shares during the period. Advyzon Investment Management LLC acquired a new position in shares of Republic Services during the first quarter worth approximately $272,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Republic Services by 5.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,699 shares of the business services provider’s stock worth $7,817,000 after acquiring an additional 1,769 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 1.2%

Shares of RSG opened at $203.95 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $223.43 and a two-hundred day moving average price of $236.67. The stock has a market cap of $63.68 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, October 30th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.Republic Services’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is presently 37.20%.

Analysts Set New Price Targets

Several equities analysts recently commented on RSG shares. Raymond James Financial reiterated an “outperform” rating and set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. BMO Capital Markets lifted their target price on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $248.00 price target on Republic Services and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.85.

Insider Transactions at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 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, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Republic Services 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.