MetLife Investment Management LLC Sells 1,142 Shares of Republic Services, Inc. $RSG

Key Points

• MetLife Investment Management LLC has reduced its position in Republic Services by 2.1%, owning 52,762 shares valued at approximately $12.78 million after a sale of 1,142 shares.
• Republic Services has announced an increase in its quarterly dividend from $0.58 to $0.625 per share, which indicates a positive change and results in a dividend yield of 1.1%.
• The company reported strong quarterly earnings of $1.77 EPS, exceeding analysts' expectations, with revenues reaching $4.24 billion, a 4.6% year-over-year increase.

MetLife Investment Management LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 52,762 shares of the business services provider's stock after selling 1,142 shares during the period. MetLife Investment Management LLC's holdings in Republic Services were worth $12,777,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Synovus Financial Corp grew its stake in shares of Republic Services by 5.4% during the first quarter. Synovus Financial Corp now owns 16,031 shares of the business services provider's stock worth $3,882,000 after acquiring an additional 824 shares during the last quarter. ICONIQ Capital LLC raised its stake in shares of Republic Services by 20.7% in the first quarter. ICONIQ Capital LLC now owns 1,508 shares of the business services provider's stock worth $365,000 after purchasing an additional 259 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Republic Services by 2.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 34,445 shares of the business services provider's stock worth $8,341,000 after purchasing an additional 842 shares during the last quarter. Allstate Corp raised its stake in shares of Republic Services by 112.6% in the first quarter. Allstate Corp now owns 14,063 shares of the business services provider's stock worth $3,405,000 after purchasing an additional 7,447 shares during the last quarter. Finally, Sprott Inc. purchased a new position in shares of Republic Services in the first quarter worth about $226,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

RSG traded up $1.13 on Friday, reaching $234.23. 875,330 shares of the company's stock were exchanged, compared to its average volume of 1,282,439. 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's fifty day moving average price is $238.94 and its 200-day moving average price is $240.73. The stock has a market cap of $73.13 billion, a PE ratio of 34.65, a P/E/G ratio of 3.67 and a beta of 0.60. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 34.32%.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. upped their target price on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Melius Research upgraded 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 upgraded Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given 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 $262.17.

Republic Services Company 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.