Nippon Life Global Investors Americas Inc. Lowers Stake in Republic Services, Inc. $RSG

Nippon Life Global Investors Americas Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 229,780 shares of the business services provider’s stock after selling 6,950 shares during the period. Republic Services makes up 2.7% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 12th largest holding. Nippon Life Global Investors Americas Inc. owned about 0.07% of Republic Services worth $55,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Republic Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider’s stock worth $4,543,231,000 after purchasing an additional 170,548 shares during the last quarter. Wellington Management Group LLP grew its position in Republic Services by 0.7% during the 1st quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock worth $1,438,237,000 after purchasing an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Republic Services by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after purchasing an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Republic Services by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after acquiring an additional 119,158 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after acquiring an additional 2,220,487 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $234.01 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market cap of $73.06 billion, a P/E ratio of 34.62, a PEG ratio of 3.63 and a beta of 0.59. The company has a 50-day moving average of $237.52 and a two-hundred day moving average of $240.97. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.01. The company 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 firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal 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 given a $0.625 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services’s dividend payout ratio (DPR) is presently 34.32%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RSG shares. Melius started coverage on shares of Republic Services in a report on Monday, June 9th. They issued a “hold” rating on the stock. Wall Street Zen downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 target price on the stock in a report on Monday, June 9th. UBS Group set a $260.00 target price on shares of Republic Services and gave the company a “neutral” rating in a report on Wednesday, July 30th. Finally, Scotiabank raised their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $262.17.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The acquisition 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 business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Republic Services Profile

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.