Hartford Funds Management Co LLC Sells 2,659 Shares of Republic Services, Inc. $RSG

Hartford Funds Management Co LLC decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 87.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 366 shares of the business services provider’s stock after selling 2,659 shares during the period. Hartford Funds Management Co LLC’s holdings in Republic Services were worth $90,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. ProShare Advisors LLC increased its stake in Republic Services by 9.2% during the 2nd quarter. ProShare Advisors LLC now owns 41,234 shares of the business services provider’s stock worth $10,169,000 after acquiring an additional 3,459 shares during the period. Profund Advisors LLC raised its position in Republic Services by 31.1% in the second quarter. Profund Advisors LLC now owns 2,863 shares of the business services provider’s stock valued at $706,000 after purchasing an additional 680 shares during the last quarter. Midwest Trust Co bought a new position in Republic Services in the 2nd quarter valued at approximately $321,000. Acadian Asset Management LLC grew its holdings in Republic Services by 56.5% during the 2nd quarter. Acadian Asset Management LLC now owns 633,564 shares of the business services provider’s stock worth $156,230,000 after acquiring an additional 228,675 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its stake in shares of Republic Services by 4.6% in the second quarter. Sound View Wealth Advisors Group LLC now owns 2,024 shares of the business services provider’s stock worth $499,000 after acquiring an additional 89 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank decreased their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. Robert W. Baird set a $240.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Finally, BMO Capital Markets upped their price target on Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.85.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the firm’s 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. This represents a 64.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $205.60 on Monday. The firm has a market capitalization of $63.65 billion, a P/E ratio of 30.41, a PEG ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a one year low of $199.43 and a one year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day moving average price of $222.86 and a 200-day moving average price of $236.36.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

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 paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

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.