Private Trust Co. NA Sells 665 Shares of Republic Services, Inc. $RSG

Private Trust Co. NA lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 12.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,729 shares of the business services provider’s stock after selling 665 shares during the quarter. Private Trust Co. NA’s holdings in Republic Services were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RSG. Golden State Wealth Management LLC grew its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after buying an additional 106 shares during the period. Cranbrook Wealth Management LLC grew its position in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 110 shares during the period. TCTC Holdings LLC increased its stake in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Key Financial Inc raised its holdings 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 purchasing an additional 99 shares during the period. Finally, Elequin Capital LP purchased a new position in Republic Services in the first quarter valued at approximately $30,000. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RSG. Raymond James Financial set a $260.00 target price on Republic Services and gave the company an “outperform” rating in a research note on Monday, October 6th. Scotiabank set a $250.00 price target on Republic Services in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a research report on Wednesday, October 8th. Stifel Nicolaus started coverage on Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 target price for the company. Finally, UBS Group lowered their price target on Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday. Two investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.10.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were acquired 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 $25,797,072,005.12. The trade was a 0.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. The trade was 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 Trading Up 0.7%

Shares of RSG stock opened at $219.87 on Friday. 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, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The business has a 50-day moving average of $228.91 and a 200 day moving average of $239.14. The stock has a market capitalization of $68.65 billion, a PE ratio of 32.52, a P/E/G ratio of 3.53 and a beta of 0.59.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

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.