Advisors Asset Management Inc. Has $10.17 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Advisors Asset Management Inc. increased its stake in Republic Services by 12.2%, now owning 41,984 shares valued at approximately $10.17 million.
• Republic Services plans to increase its quarterly dividend to $0.625, reflecting a growth from the previous $0.58, with a yield of 1.1%.
• The stock has been recently analyzed with varying price targets; JPMorgan raised its target from $229 to $275, highlighting strong interest among institutional investors.

Advisors Asset Management Inc. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,984 shares of the business services provider's stock after acquiring an additional 4,557 shares during the period. Advisors Asset Management Inc.'s holdings in Republic Services were worth $10,167,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RSG. Golden State Wealth Management LLC lifted its holdings in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Key Financial Inc increased its position in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Republic Services during the 1st quarter valued at about $30,000. Finally, Park Square Financial Group LLC bought a new stake in Republic Services during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 0.8%

Shares of RSG traded down $1.75 during mid-day trading on Monday, hitting $227.98. 1,266,736 shares of the company's stock were exchanged, compared to its average volume of 1,273,250. The company has a 50-day simple moving average of $237.22 and a 200 day simple moving average of $241.13. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a market cap of $71.18 billion, a PE ratio of 33.72, a P/E/G ratio of 3.58 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The business's quarterly revenue was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is 34.32%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets increased their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price for the company in a research note on Monday, June 9th. UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Melius began coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Insider Buying and Selling

In other news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by company insiders.

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.