Republic Services, Inc. $RSG Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 25.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,149 shares of the business services provider’s stock after acquiring an additional 439 shares during the period. Harbour Investments Inc.’s holdings in Republic Services were worth $530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. J.Safra Asset Management Corp boosted its stake in shares of Republic Services by 8.4% in the second quarter. J.Safra Asset Management Corp now owns 1,623 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 126 shares during the period. Sagespring Wealth Partners LLC boosted its stake in shares of Republic Services by 11.1% in the second quarter. Sagespring Wealth Partners LLC now owns 1,756 shares of the business services provider’s stock valued at $433,000 after purchasing an additional 176 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of Republic Services by 4.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 6,155 shares of the business services provider’s stock valued at $1,518,000 after purchasing an additional 289 shares during the period. Cornerstone Wealth Group LLC boosted its stake in shares of Republic Services by 3.0% in the second quarter. Cornerstone Wealth Group LLC now owns 17,693 shares of the business services provider’s stock valued at $4,363,000 after purchasing an additional 509 shares during the period. Finally, NorthRock Partners LLC boosted its stake in shares of Republic Services by 14.4% in the second quarter. NorthRock Partners LLC now owns 2,735 shares of the business services provider’s stock valued at $674,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Scotiabank set a $250.00 price target on shares of Republic Services in a research note on Friday, October 10th. Barclays assumed coverage on shares of Republic Services in a research note on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Republic Services in a research note on Monday, September 29th. They issued a “buy” rating and a $257.00 price target for the company. Oppenheimer decreased their price target on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Finally, Raymond James Financial set a $260.00 price target on shares of Republic Services and gave the stock an “outperform” rating in a research note on Monday, October 6th. Two equities 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.10.

Insiders Place Their Bets

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.

Republic Services Stock Up 0.7%

Shares of NYSE:RSG opened at $219.87 on Monday. The company has a market capitalization of $68.65 billion, a PE ratio of 32.52, a P/E/G ratio of 3.56 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The firm has a 50 day simple moving average of $228.91 and a 200-day simple moving average of $239.03.

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

Republic Services Increases Dividend

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

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.