Republic Services, Inc. $RSG Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its holdings in Republic Services, Inc. (NYSE:RSG) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 112,290 shares of the business services provider’s stock after acquiring an additional 3,448 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Republic Services were worth $27,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ignite Planners LLC grew its position in shares of Republic Services by 2.8% in the second quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 43 shares during the period. Gries Financial LLC increased its stake in shares of Republic Services by 3.8% during the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 46 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Republic Services by 17.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock worth $75,000 after acquiring an additional 46 shares during the period. Hemington Wealth Management boosted its position in shares of Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock worth $195,000 after acquiring an additional 47 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its position in Republic Services by 2.1% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock worth $589,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services 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 bought at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value 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 $949,796.40. This represents a 64.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reduced their target price on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group set a $248.00 price target on Republic Services and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Republic Services in a research note on Friday, October 31st. Finally, Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.85.

Republic Services Trading Down 1.2%

Shares of RSG opened at $203.95 on Friday. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75. The stock’s 50-day moving average is $223.43 and its two-hundred day moving average is $236.67. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $63.68 billion, a PE ratio of 30.17, a P/E/G ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 30th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.78 by $0.12. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $1.81 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a $0.625 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio is 37.20%.

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.