Mirae Asset Global Investments Co. Ltd. Has $8.07 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Mirae Asset Global Investments increased its holdings in Republic Services by 56.1%, owning 32,710 shares valued at approximately $8.07 million as of its latest SEC filing.
• Analysts have set a consensus target price of $260.58 for Republic Services, with ratings ranging from "Strong Buy" to "Hold" from various investment firms.
• Republic Services has recently announced a quarterly dividend increase to $0.625, reflecting a commitment to returning value to shareholders, with a yield of 1.1%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 56.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,710 shares of the business services provider's stock after buying an additional 11,755 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Republic Services were worth $8,067,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Golden State Wealth Management LLC grew its holdings in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in shares of Republic Services during the first quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after buying an additional 4,110 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Republic Services during the 1st quarter valued at $260,000. Finally, GAMMA Investing LLC grew its position in Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after acquiring an additional 3,503 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RSG has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target 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 initiated coverage on shares of Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. UBS Group set a $260.00 price target on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price target for the company in a research note on Monday, June 9th. Finally, Scotiabank boosted their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.58.

Republic Services Stock Up 0.7%

Shares of NYSE RSG opened at $224.14 on Monday. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. 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 company's 50 day moving average price is $231.45 and its 200-day moving average price is $240.28. The company has a market capitalization of $69.98 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

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

Republic Services Increases Dividend

The firm also recently announced 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 is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's dividend payout ratio is presently 36.98%.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This represents a 64.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price 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 represents 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 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.

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