Nippon Life Global Investors Americas Inc. Acquires Shares of 8,140 Republic Services, Inc. $RSG

Nippon Life Global Investors Americas Inc. bought a new position in Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,140 shares of the business services provider’s stock, valued at approximately $1,734,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Republic Services in the 4th quarter worth approximately $617,165,000. Capital World Investors grew its stake in Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock valued at $1,857,698,000 after buying an additional 1,899,183 shares in the last quarter. Morgan Stanley raised its holdings in Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock valued at $1,133,509,000 after acquiring an additional 1,490,719 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Republic Services during the second quarter worth $220,527,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Republic Services by 68.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock worth $497,828,000 after acquiring an additional 913,249 shares during the period. Institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent research reports. Barclays lifted their price target on Republic Services from $233.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Citigroup raised their target price on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price target on shares of Republic Services in a research report on Friday, May 8th. Royal Bank Of Canada increased their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.26.

Republic Services Price Performance

NYSE:RSG opened at $214.75 on Monday. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $238.62. The stock has a fifty day moving average of $214.01 and a 200 day moving average of $214.95. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $65.76 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.51 and a beta of 0.40.

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

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 35.41%.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. purchased 188,460 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $215.81 per share, with a total value of $40,671,552.60. Following the acquisition, the insider directly owned 111,668,606 shares of the company’s stock, valued at approximately $24,099,201,860.86. This represents a 0.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 864,624 shares of company stock worth $186,474,430 over the last ninety days. 0.12% of the stock is currently owned by insiders.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.