Brighton Jones LLC Raises Stock Holdings in Republic Services, Inc. $RSG

Brighton Jones LLC boosted its stake in Republic Services, Inc. (NYSE:RSG) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,980 shares of the business services provider’s stock after buying an additional 497 shares during the period. Brighton Jones LLC’s holdings in Republic Services were worth $4,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings 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 buying an additional 106 shares during the period. Cranbrook Wealth Management LLC increased its stake in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the period. Key Financial Inc increased its stake in Republic Services by 380.8% during the first 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. TCTC Holdings LLC increased its stake in Republic Services by 113.8% during the first 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 period. Finally, Elequin Capital LP purchased a new stake in Republic Services during the first quarter worth about $30,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RSG. Scotiabank set a $250.00 price target on shares of Republic Services in a research note on Friday, October 10th. UBS Group cut their price target on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Raymond James Financial set a $260.00 price objective on Republic Services and gave the stock an “outperform” rating in a research report on Monday, October 6th. National Bankshares lowered their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Finally, Citigroup lowered their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average price target of $257.10.

Insider Buying and Selling

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $223.16 on Friday. The stock has a 50 day moving average price of $227.75 and a 200 day moving average price of $238.69. 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 market capitalization of $69.68 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75.

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

Republic Services Dividend Announcement

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

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.