MGO One Seven LLC Has $3.40 Million Stock Holdings in Republic Services, Inc. $RSG

MGO One Seven LLC lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 88.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,794 shares of the business services provider’s stock after buying an additional 6,465 shares during the quarter. MGO One Seven LLC’s holdings in Republic Services were worth $3,402,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares during the period. TCTC Holdings LLC increased its position in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after acquiring an additional 66 shares during the period. Key Financial Inc increased its position in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after acquiring an additional 99 shares during the period. Finally, Elequin Capital LP bought a new position in Republic Services during the first quarter worth about $30,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 price target on the stock. BMO Capital Markets raised their price target on shares of Republic Services from $280.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Scotiabank set a $250.00 price target on shares of Republic Services in a research report on Friday. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, UBS Group set a $260.00 target price on shares of Republic Services and gave the company a “neutral” rating in a report on Wednesday, July 30th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $258.85.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’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 transaction, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Republic Services Trading Down 0.9%

RSG opened at $223.04 on Tuesday. The company’s 50 day moving average is $230.01 and its 200-day moving average is $239.70. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. 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 $69.64 billion, a P/E ratio of 32.99, a PEG ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the company posted $1.61 EPS. The firm’s quarterly 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. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio is 36.98%.

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.