Belpointe Asset Management LLC Grows Position in Republic Services, Inc. $RSG

Belpointe Asset Management LLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,900 shares of the business services provider’s stock after buying an additional 73 shares during the quarter. Belpointe Asset Management LLC’s holdings in Republic Services were worth $1,455,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position 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 worth $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC increased its position 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 worth $29,000 after purchasing an additional 110 shares during the last quarter. Key Financial Inc increased its position in 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 purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC increased its position in 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 purchasing an additional 66 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in Republic Services in the first quarter worth $30,000. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RSG. Scotiabank boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Friday, July 18th. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Stifel Nicolaus began coverage on shares of Republic Services in a research report on Monday, September 29th. They set a “buy” rating and a $257.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, National Bankshares cut their price objective on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.60.

Insider Activity

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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price 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 in the company, valued at $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. 0.11% of the stock is owned by corporate insiders.

Republic Services Trading Down 0.3%

NYSE RSG opened at $222.53 on Wednesday. The company’s 50-day moving average price is $230.62 and its 200-day moving average price is $240.08. 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 cap of $69.48 billion, a PE ratio of 32.92, a PEG ratio of 3.48 and a beta of 0.59. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75.

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

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s dividend payout ratio (DPR) is currently 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.