Hartford Funds Management Co LLC Decreases Stock Holdings in Republic Services, Inc. $RSG

Hartford Funds Management Co LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 87.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 366 shares of the business services provider’s stock after selling 2,659 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Republic Services were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after acquiring an additional 8,547 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in shares of Republic Services in the first quarter worth approximately $211,000. Alps Advisors Inc. bought a new stake in shares of Republic Services during the 1st quarter valued at $368,000. Cerity Partners LLC boosted its holdings in Republic Services by 23.6% in the 1st quarter. Cerity Partners LLC now owns 36,383 shares of the business services provider’s stock worth $8,810,000 after buying an additional 6,952 shares during the period. Finally, Diversify Wealth Management LLC purchased a new stake in Republic Services in the 1st quarter worth $201,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 transaction of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider owned 109,816,832 shares of the company’s stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSG. Jefferies Financial Group set a $248.00 target price on Republic Services and gave the company a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets increased their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. National Bankshares decreased their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their price objective on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Citigroup cut their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.85.

Republic Services Stock Up 0.7%

Shares of NYSE RSG opened at $205.60 on Monday. The stock has a 50 day moving average price of $222.86 and a 200 day moving average price of $236.36. The firm has a market capitalization of $63.65 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.40 and a beta of 0.57. Republic Services, Inc. has a 52-week low of $199.43 and a 52-week high of $258.75. 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 (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.78 by $0.12. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is presently 37.20%.

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.