Johnson Investment Counsel Inc. Cuts Stock Holdings in Republic Services, Inc. $RSG

Johnson Investment Counsel Inc. decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,984 shares of the business services provider’s stock after selling 126 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Republic Services were worth $1,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Capital Management Associates Inc bought a new position in Republic Services during the first quarter valued at approximately $314,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock valued at $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC bought a new position in Republic Services during the first quarter valued at approximately $260,000. Finally, GAMMA Investing LLC lifted its position in Republic Services by 61.6% during the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock valued at $2,226,000 after purchasing an additional 3,503 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, 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 price of $234.91 per share, for a total transaction of $1,000,246.78. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the firm’s 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. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on RSG. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Services in a research report on Wednesday, October 8th. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the company an “outperform” rating in a research report on Monday, October 6th. Stifel Nicolaus started 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. Citigroup decreased their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Finally, BMO Capital Markets raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $258.85.

Republic Services Stock Performance

RSG opened at $223.04 on Tuesday. The stock has a market capitalization of $69.64 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 3.64 and a beta of 0.59. The company has a fifty day moving average of $230.01 and a 200 day moving average of $239.70. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two 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 issued its quarterly earnings data 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. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations 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 was up 4.6% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal 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 is a boost from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 36.98%.

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.