Vestmark Advisory Solutions Inc. Acquires Shares of 1,089 Republic Services, Inc. $RSG

Vestmark Advisory Solutions Inc. bought a new stake in Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,089 shares of the business services provider’s stock, valued at approximately $269,000.

A number of other hedge funds have also made changes to their positions in RSG. BNP Paribas Financial Markets increased its stake in Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock valued at $116,048,000 after buying an additional 43,387 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Republic Services in the 1st quarter worth approximately $22,078,000. Ascent Group LLC lifted its holdings in shares of Republic Services by 6.3% during the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after acquiring an additional 1,130 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Republic Services by 5.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,699 shares of the business services provider’s stock valued at $7,817,000 after purchasing an additional 1,769 shares in the last quarter. Finally, USA Financial Formulas raised its stake in shares of Republic Services by 107.6% in the 2nd quarter. USA Financial Formulas now owns 4,885 shares of the business services provider’s stock valued at $1,205,000 after acquiring an additional 2,532 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were 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. The trade was a 0.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group set a $248.00 price objective on shares of Republic Services and gave the stock a “buy” rating in a report on Monday, November 3rd. 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 report on Thursday, October 16th. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Scotiabank cut their price target on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Finally, Stifel Nicolaus decreased their target price on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $251.52.

Republic Services Stock Down 0.1%

Republic Services stock opened at $206.97 on Thursday. The firm has a fifty day moving average price of $221.19 and a two-hundred day moving average price of $235.63. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week 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 firm has a market cap of $64.07 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.40 and a beta of 0.57.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend 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.