Regal Partners Ltd Takes Position in Republic Services, Inc. $RSG

Regal Partners Ltd bought a new stake in Republic Services, Inc. (NYSE:RSG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,013 shares of the business services provider’s stock, valued at approximately $250,000.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of 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 acquiring an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of 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 worth $29,000 after acquiring an additional 110 shares during the last quarter. Key Financial Inc increased its stake in shares of Republic Services by 380.8% in 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 last quarter. TCTC Holdings LLC increased 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 last quarter. Finally, Elequin Capital LP acquired a new position in shares of Republic Services in the first quarter worth $30,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $208.49 on Friday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The firm has a 50 day moving average of $225.66 and a 200-day moving average of $237.67. 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 stock has a market capitalization of $65.09 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59.

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

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 37.20%.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value 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. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research reports. Robert W. Baird set a $240.00 price target on shares of Republic Services in a research note on Friday. Oppenheimer set a $256.00 price target on Republic Services in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup reduced their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Finally, 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 note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.65.

Republic Services Company 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.