Advisors Capital Management LLC Makes New Investment in Republic Services, Inc. $RSG

Advisors Capital Management LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 842 shares of the business services provider’s stock, valued at approximately $204,000.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Capital Management Associates Inc purchased a new position in shares of Republic Services in the first quarter valued at about $314,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Republic Services by 0.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock valued at $136,397,000 after acquiring an additional 4,110 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Republic Services in the first quarter valued at about $260,000. Finally, GAMMA Investing LLC increased its position in shares of Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock valued at $2,226,000 after acquiring an additional 3,503 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RSG. BMO Capital Markets boosted their price objective 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. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Scotiabank boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Friday, July 18th. Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.17.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The transaction was disclosed in a document filed 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 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 in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $228.46 on Friday. The stock has a market cap of $71.33 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm’s 50-day simple moving average is $235.93 and its two-hundred day simple moving average is $240.97.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services’s dividend payout ratio is currently 34.32%.

Republic Services 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.