Republic Services, Inc. $RSG Stake Cut by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 453 shares of the business services provider’s stock after selling 74 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Republic Services were worth $112,000 at the end of the most recent reporting period.

Other hedge funds also recently 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 valued at $26,000 after buying an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC lifted its stake in Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Key Financial Inc lifted its stake in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in Republic Services in the first quarter valued at $30,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent research reports. Scotiabank set a $250.00 target price on Republic Services in a research note on Friday, October 10th. Citigroup lowered their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Barclays began coverage on Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Services in a report on Saturday. Finally, National Bankshares lowered their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.10.

Insider Transactions at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction dated 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 transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $223.16 on Friday. The business’s 50-day moving average price is $227.75 and its 200 day moving average price is $238.69. The firm has a market cap of $69.68 billion, a P/E ratio of 33.01, a PEG ratio of 3.60 and a beta of 0.59. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

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

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 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.