Private Trust Co. NA Sells 665 Shares of Republic Services, Inc. $RSG

Private Trust Co. NA cut its holdings in Republic Services, Inc. (NYSE:RSG) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,729 shares of the business services provider’s stock after selling 665 shares during the quarter. Private Trust Co. NA’s holdings in Republic Services were worth $1,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Key Financial Inc boosted its holdings in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. TCTC Holdings LLC grew its stake in shares of Republic Services by 113.8% in 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. Finally, Elequin Capital LP bought a new position in Republic Services during the first quarter valued at approximately $30,000. Institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RSG shares. UBS Group decreased their target price on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 target price on the stock. Oppenheimer cut their price target on Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, 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 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.10.

Insider Transactions at Republic Services

In other Republic Services news, 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 value of $1,716,651.72. Following the completion of the transaction, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following 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. Corporate insiders own 0.11% of the company’s stock.

Republic Services Trading Up 0.7%

Shares of NYSE:RSG opened at $219.87 on Friday. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The company has a market cap of $68.65 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The stock has a 50 day moving average of $228.91 and a 200 day moving average of $239.14. 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 posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd were issued 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 yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 2nd. Republic Services’s payout ratio is 36.98%.

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.