Penobscot Investment Management Company Inc. Buys 370 Shares of Republic Services, Inc. $RSG

Penobscot Investment Management Company Inc. grew its stake in Republic Services, Inc. (NYSE:RSG) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,439 shares of the business services provider’s stock after buying an additional 370 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Republic Services were worth $3,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quent Capital LLC lifted its position in shares of Republic Services by 15.4% in the second quarter. Quent Capital LLC now owns 1,071 shares of the business services provider’s stock worth $264,000 after buying an additional 143 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Republic Services by 21.0% in the second quarter. QRG Capital Management Inc. now owns 77,962 shares of the business services provider’s stock worth $19,226,000 after buying an additional 13,529 shares during the last quarter. Segment Wealth Management LLC lifted its position in shares of Republic Services by 8.1% in the second quarter. Segment Wealth Management LLC now owns 5,690 shares of the business services provider’s stock worth $1,403,000 after buying an additional 426 shares during the last quarter. Ascent Group LLC lifted its position in shares of Republic Services by 6.3% in the second quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after buying an additional 1,130 shares during the last quarter. Finally, Mattern Capital Management LLC lifted its position in shares of Republic Services by 16.7% in the second quarter. Mattern Capital Management LLC now owns 3,481 shares of the business services provider’s stock worth $858,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was 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.

Republic Services Stock Up 0.7%

NYSE RSG opened at $224.14 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50-day simple moving average of $231.45 and a 200 day simple moving average of $240.20. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The stock has a market cap of $69.98 billion, a PE ratio of 33.16, a PEG ratio of 3.47 and a beta of 0.59.

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

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a boost 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 is 36.98%.

Analyst Ratings Changes

A number of brokerages have weighed in on RSG. Citigroup reduced their price target on Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Oppenheimer raised their price target on Republic Services from $262.00 to $268.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Melius Research raised Republic Services to a “hold” rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Finally, Stifel Nicolaus initiated coverage on Republic Services in a research report on Monday. They issued a “buy” rating and a $257.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $260.58.

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.