Fifth Third Wealth Advisors LLC Grows Holdings in Republic Services, Inc. $RSG

Fifth Third Wealth Advisors LLC grew its holdings in Republic Services, Inc. (NYSE:RSG) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,451 shares of the business services provider’s stock after purchasing an additional 180 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Republic Services were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares in the last quarter. TCTC Holdings LLC grew its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc grew its position in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after buying an additional 99 shares in the last quarter. Finally, Elequin Capital LP bought a new position in shares of Republic Services during the 1st quarter worth $30,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 1.6%

Shares of NYSE:RSG opened at $225.16 on Monday. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 3.64 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $230.18 and a 200-day moving average price of $239.81.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business posted $1.61 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. 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 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 36.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank set a $250.00 price target on Republic Services in a research report on Friday. Barclays began coverage on Republic Services in a research report on Friday, September 19th. They set an “equal weight” rating and a $240.00 price objective on the stock. Citigroup dropped their price objective on Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Oppenheimer dropped their price objective on Republic Services from $268.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $258.85.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services 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 completion of the purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.