HighTower Advisors LLC Reduces Stock Position in Republic Services, Inc. $RSG

HighTower Advisors LLC cut its holdings in Republic Services, Inc. (NYSE:RSG) by 4.1% during the 2nd quarter, Holdings Channel reports. The firm owned 63,305 shares of the business services provider’s stock after selling 2,723 shares during the period. HighTower Advisors LLC’s holdings in Republic Services were worth $13,489,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Groupe la Francaise grew its position in shares of Republic Services by 17.8% in the 2nd quarter. Groupe la Francaise now owns 71,736 shares of the business services provider’s stock worth $15,291,000 after buying an additional 10,853 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Republic Services in the 2nd quarter worth approximately $13,002,000. California State Teachers Retirement System lifted its position in Republic Services by 19,694.6% in the 2nd quarter. California State Teachers Retirement System now owns 49,796,796 shares of the business services provider’s stock valued at $10,610,701,000 after acquiring an additional 49,545,228 shares in the last quarter. Greenland Capital Management LP purchased a new stake in Republic Services during the 2nd quarter valued at $5,255,000. Finally, Washington Trust Advisors Inc. bought a new stake in Republic Services in the 2nd quarter worth about $66,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.4%

Shares of RSG opened at $222.56 on Thursday. The company’s fifty day simple moving average is $218.07 and its 200-day simple moving average is $215.18. The company has a market cap of $68.15 billion, a P/E ratio of 31.52, a P/E/G ratio of 3.67 and a beta of 0.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.12. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $233.42.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.81 by $0.04. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.Republic Services’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. As a group, analysts expect that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be given a dividend of $0.67 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. Republic Services’s dividend payout ratio is presently 35.41%.

Analysts Set New Price Targets

RSG has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. UBS Group increased their price objective on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Morgan Stanley set a $232.00 target price on shares of Republic Services in a research note on Friday, August 7th. Finally, Barclays increased their price objective on shares of Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.26.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 365,039 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average cost of $223.16 per share, with a total value of $81,462,103.24. Following the completion of the purchase, the insider directly owned 115,756,830 shares in the company, valued at $25,832,294,182.80. The trade was a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders acquired 4,952,848 shares of company stock valued at $1,091,421,414. 0.12% of the stock is currently owned by corporate insiders.

Republic Services Company Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, offering scheduled and on-demand waste pickup, roll-off containers, transfer-station services and landfill disposal.

Its recycling and environmental services include the collection and processing of recyclable materials, organics management, waste reduction programs and related sustainability solutions.