Quent Capital LLC Boosts Holdings in Republic Services, Inc. $RSG

Quent Capital LLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 15.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,071 shares of the business services provider’s stock after purchasing an additional 143 shares during the period. Quent Capital LLC’s holdings in Republic Services were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Republic Services by 0.9% during the first 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 lifted its holdings in Republic Services by 0.7% during the first 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 lifted its holdings in Republic Services by 0.3% during the first 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. lifted its holdings in Republic Services by 4.3% during the first 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 lifted its holdings in Republic Services by 12.4% during the first 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 owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Melius assumed coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a “hold” rating for the company. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Barclays assumed coverage on shares of Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Republic Services in a research report on Monday, September 29th. They issued a “buy” rating and a $257.00 target price for the company. Finally, BMO Capital Markets increased their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.58.

Republic Services Price Performance

Republic Services stock opened at $224.14 on Friday. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The stock has a market cap of $69.98 billion, a P/E ratio of 33.16, a PEG ratio of 3.50 and a beta of 0.59. The company has a 50-day moving average price of $231.45 and a 200 day moving average price of $240.24. 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 (NYSE:RSG) last released its quarterly earnings data 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business earned $1.61 earnings per share. Republic Services’s revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. 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 will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is a boost 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%. The ex-dividend date is Thursday, October 2nd. Republic Services’s dividend payout ratio (DPR) 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.