21,637 Republic Services, Inc. $RSG Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Republic Services stake by 86.4%, selling 21,637 shares in the third quarter and retaining 3,406 shares valued at about $715,000.
• Analyst sentiment is generally positive: 12 analysts rate the stock Buy and nine Hold, for a consensus “Moderate Buy” rating and an average price target of $249.32.
• Republic Services reported quarterly revenue up 8.2% year over year to $4.56 billion and EPS of $1.94, slightly beating estimates; it also announced a $0.67 quarterly dividend.

AIA Group Ltd cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 86.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,406 shares of the business services provider's stock after selling 21,637 shares during the period. AIA Group Ltd's holdings in Republic Services were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. BlackRock Inc. acquired a new stake in shares of Republic Services during the second quarter worth about $3,798,092,000. State Street Corp lifted its holdings in shares of Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock valued at $2,120,893,000 after purchasing an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Republic Services in the 2nd quarter valued at approximately $682,573,000. Allspring Global Investments Holdings LLC grew its position in shares of Republic Services by 68.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider's stock valued at $497,828,000 after purchasing an additional 913,249 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Republic Services by 1.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,434 shares of the business services provider's stock worth $454,379,000 after purchasing an additional 28,996 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RSG. Weiss Ratings upgraded shares of Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Republic Services from $245.00 to $265.00 and gave the company a "neutral" rating in a report on Friday, October 30th. Morgan Stanley lowered their price objective on shares of Republic Services from $232.00 to $219.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 13th. Wolfe Research started coverage on shares of Republic Services in a report on Tuesday, September 15th. They set a "peer perform" rating on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, October 30th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $249.32.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. purchased 324,810 shares of the firm's stock in a transaction on Friday, September 11th. The stock was purchased at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the completion of the purchase, the insider directly owned 117,058,444 shares in the company, valued at $26,091,156,583.16. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian A. Bales sold 3,400 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the transaction, the executive vice president directly owned 17,616 shares in the company, valued at $4,298,304. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 6,254,462 shares of company stock worth $1,380,321,958 in the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Republic Services News Roundup

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Citigroup raised its price target to $281 from $259 and reiterated a Buy rating, suggesting it sees further upside. Barclays was also reported as forecasting strong price appreciation. Citigroup analyst coverage Barclays analyst coverage
• Positive Sentiment: A recent commentary highlighted the appeal of steady, predictable businesses during market volatility—a profile that may benefit Republic Services’ recurring waste-collection and disposal services. Commentary on defensive stocks
• Neutral Sentiment: Recent quarterly results offer business fundamentals: revenue rose 8.2% year over year to $4.56 billion, above estimates, while earnings per share of $1.94 narrowly beat consensus. These results were reported before the current news window. Republic Services company and trading information
• Negative Sentiment: EVP Brian Bales sold 3,400 shares for $829,600, reducing his holdings by 16.18%. He still owns 17,616 shares, so the sale may be a limited negative signal rather than clear evidence of a change in company outlook. Report on insider stock sale

Republic Services Stock Performance

Shares of RSG stock opened at $249.16 on Friday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $254.39. The company's fifty day simple moving average is $224.40 and its 200-day simple moving average is $217.51. The firm has a market cap of $75.91 billion, a PE ratio of 33.85, a P/E/G ratio of 4.08 and a beta of 0.32. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.14.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts expect that Republic Services, Inc. will post 7.27 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's payout ratio is currently 37.07%.

Republic Services Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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