Eastern Bank Has $721,000 Stock Holdings in Republic Services, Inc. $RSG

Eastern Bank trimmed its position in Republic Services, Inc. (NYSE:RSG) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,925 shares of the business services provider’s stock after selling 425 shares during the quarter. Eastern Bank’s holdings in Republic Services were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RSG. Brighton Jones LLC lifted its stake in shares of Republic Services by 75.8% in the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after buying an additional 8,547 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock worth $2,226,000 after buying an additional 3,503 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Republic Services by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 5,724 shares of the business services provider’s stock worth $1,386,000 after buying an additional 81 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Republic Services by 193.5% in the first quarter. Salem Investment Counselors Inc. now owns 587 shares of the business services provider’s stock worth $142,000 after buying an additional 387 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC lifted its stake in shares of Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock worth $279,000 after buying an additional 46 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gregg Brummer sold 7,338 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value of $1,716,651.72. Following the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by corporate insiders.

Republic Services Trading Up 1.6%

Shares of Republic Services stock opened at $225.16 on Friday. The firm has a market capitalization of $70.30 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 3.64 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company’s fifty day moving average price is $230.18 and its two-hundred day moving average price is $239.81. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.97% and a return on equity of 18.27%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 36.98%.

Wall Street Analyst Weigh In

RSG has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an “outperform” rating in a research note on Monday, October 6th. Scotiabank set a $250.00 target price on shares of Republic Services in a research note on Friday. Stifel Nicolaus initiated coverage on shares of Republic Services in a research note on Monday, September 29th. They set a “buy” rating and a $257.00 target price for the company. Finally, National Bankshares cut their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.85.

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.