Marks Group Wealth Management Inc Reduces Holdings in Republic Services, Inc. $RSG

Marks Group Wealth Management Inc reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,337 shares of the business services provider’s stock after selling 2,041 shares during the quarter. Republic Services accounts for 1.9% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 5th biggest holding. Marks Group Wealth Management Inc’s holdings in Republic Services were worth $20,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. C WorldWide Group Holding A S bought a new stake in Republic Services during the first quarter worth $230,013,000. Nuveen LLC bought a new stake in Republic Services during the first quarter worth $198,685,000. Robeco Institutional Asset Management B.V. raised its position in shares of Republic Services by 118.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after purchasing an additional 437,190 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider’s stock worth $427,009,000 after buying an additional 384,695 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Republic Services during the 1st quarter worth about $63,910,000. 57.73% of the stock is owned by institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This represents 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%

RSG stock opened at $224.14 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company’s 50-day simple moving average is $231.45 and its 200 day simple moving average is $240.28. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a market capitalization of $69.98 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

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

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This is a positive change 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%. Republic Services’s dividend payout ratio is currently 36.98%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RSG. 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 report on Wednesday, September 17th. Stifel Nicolaus began coverage on shares of Republic Services in a report on Monday, September 29th. They set a “buy” rating and a $257.00 target price for the company. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 target price for the company in a report on Monday, June 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Saturday, September 27th. Finally, Oppenheimer lifted their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $260.58.

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.