Belpointe Asset Management LLC Acquires 73 Shares of Republic Services, Inc. $RSG

Belpointe Asset Management LLC increased its holdings in Republic Services, Inc. (NYSE:RSG) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,900 shares of the business services provider’s stock after acquiring an additional 73 shares during the quarter. Belpointe Asset Management LLC’s holdings in Republic Services were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of RSG. Vanguard Group Inc. increased its stake in Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock valued at $4,543,231,000 after purchasing an additional 170,548 shares in the last quarter. Wellington Management Group LLP increased its stake in Republic Services by 0.7% during the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after purchasing an additional 42,019 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Republic Services by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock valued at $1,292,050,000 after purchasing an additional 17,711 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after purchasing an additional 119,158 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Republic Services by 12.4% during the 1st quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider’s stock valued at $494,930,000 after purchasing an additional 224,867 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

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 on 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 transaction, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $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

RSG opened at $222.53 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market cap of $69.48 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.48 and a beta of 0.59. The company’s 50 day moving average is $230.62 and its 200 day moving average is $240.08. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75.

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

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is currently 36.98%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. 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. Citigroup reduced their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. UBS Group set a $260.00 price target on shares of Republic Services and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $259.60.

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.