Azimuth Capital Investment Management LLC Sells 4,197 Shares of Republic Services, Inc. $RSG

Key Points

• Azimuth Capital Investment Management LLC reduced its holdings in Republic Services by 3.4%, selling 4,197 shares and holding a total of 119,614 shares valued at approximately $28.97 million.
• Republic Services has seen recent increases in institutional investments, with firms like Golden State Wealth Management LLC boosting holdings by an impressive 3,533.3% in the first quarter.
• The company announced a quarterly dividend increase to $0.625 per share, up from $0.58, representing a yield of 1.1% with a payout ratio of 36.98%.

Azimuth Capital Investment Management LLC decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,614 shares of the business services provider's stock after selling 4,197 shares during the period. Republic Services accounts for 1.2% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 17th biggest holding. Azimuth Capital Investment Management LLC's holdings in Republic Services were worth $28,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 acquiring an additional 170,548 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after purchasing an additional 119,158 shares during the period. Northern Trust Corp increased its holdings in shares of Republic Services by 13.1% during the 4th quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock worth $488,106,000 after purchasing an additional 280,542 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after purchasing an additional 2,220,487 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

Republic Services stock traded up $2.25 during trading hours on Tuesday, hitting $234.68. 233,780 shares of the stock were exchanged, compared to its average volume of 1,292,877. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $73.27 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.63 and a beta of 0.60. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The business's 50-day moving average is $241.28 and its two-hundred day moving average is $240.26.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for 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 company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared 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 annualized dividend 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 of this dividend is Thursday, October 2nd. Republic Services's payout ratio is currently 34.32%.

Analysts Set New Price Targets

Several research analysts have recently issued reports 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. Citigroup upped their target price on shares of Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Raymond James Financial upped their target price on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. Finally, Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

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.