Valeo Financial Advisors LLC has reduced its stake in Republic Services, Inc. by 22.9% in the second quarter, according to its recent filing with the SEC. The firm sold 857 shares of the business services provider’s stock, leaving it with a total of 2,881 shares worth $441,000. Other institutional investors have also made changes to their holdings of the company.
Bangor Savings Bank increased its holdings in Republic Services by 210.5% in the second quarter, acquiring an additional 120 shares. Similarly, Horizons Wealth Management purchased a new position in the company, and Strategic Investment Solutions Inc. IL and Kepos Capital LP also bought new stakes in Republic Services. TCI Wealth Advisors Inc. boosted its share of the company by 242.7% in the first quarter.
Republic Services is currently trading down 0.7%, with shares on the NYSE opening at $146.36 on Friday. The company has a 50-day moving average of $148.44 and a 200-day moving average of $143.74. With a market cap of $46.30 billion, a P/E ratio of 29.45, and a beta of 0.67, Republic Services has a strong position in the market. The company’s annual revenues were $3.73 billion, up 9.1% from the previous year, and it is expected to post earnings per share of 5.35 for the current fiscal year.
In addition to lowering its stake in Republic Services, Valeo Financial Advisors has also modified its holdings in other companies. The firm’s significant changes in its portfolio reflect its strategy to align with the market’s evolving trends and investment opportunities.
Republic Services recently announced an increase in its quarterly dividend. The company will pay a dividend of $0.535 on October 13th, which is higher than its previous quarterly dividend of $0.50. This represents an annualized dividend of $2.14 and a dividend yield of 1.46%. The ex-dividend date is September 29th. Republic Services’ payout ratio is currently 39.84%.
The insider activity at Republic Services includes the sale of company stock by CMO Amanda Hodges and CFO Brian M. Delghiaccio. Hodges sold 2,712 shares of the company’s stock at an average price of $148.66, while Delghiaccio sold 5,500 shares at an average price of $149.65. The transaction details were disclosed in filings with the Securities & Exchange Commission.
Wall Street analysts have weighed in on Republic Services, with several giving the stock a “hold” rating. Royal Bank of Canada raised their target price from $156.00 to $163.00, while Morgan Stanley increased the target price from $158.00 to $170.00 and gave the company an “overweight” rating. The consensus rating for Republic Services is currently “Moderate Buy” with an average target price of $159.00.
Overall, Republic Services remains a key player in the environmental services industry, offering waste management and disposal solutions in the United States. With its strong financial performance and ongoing strategic activities, the company continues to attract both institutional investors and analysts’ attention.
Stake: The number of shares an investor holds in a company, representing their ownership percentage of that company.
Institutional investors: Organizations that invest large amounts of money on behalf of others, such as mutual funds, pension funds, and insurance companies.
Dividend: A payment made by a company to its shareholders, usually from its profits.
Payout ratio: The percentage of earnings distributed to shareholders in the form of dividends.
Beta: A measure of a stock’s volatility in relation to the overall market.
Securities and Exchange Commission (SEC): A governmental agency that regulates and oversees the securities industry in the United States.
– Valeo Financial Advisors LLC filing with the SEC
– Republic Services’ quarterly earnings report
– Securities & Exchange Commission filings for Republic Services
– Reports and research notes from Royal Bank of Canada, Morgan Stanley, and Oppenheimer