NBC Securities Inc. Sells 1,193 Shares of Republic Services, Inc. $RSG

Key Points

• NBC Securities Inc. has reduced its stake in Republic Services by 6.5%, selling 1,193 shares, resulting in total holdings of 17,054 shares valued at approximately $4.2 million.
• Republic Services recently announced an increase in its quarterly dividend from $0.58 to $0.625, with an annualized payout of $2.50, reflecting a dividend yield of 1.1%.
• Analysts have been optimistic about Republic Services, with most recommending a "buy" rating, while the average price target has been set at $262.17.

NBC Securities Inc. lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,054 shares of the business services provider's stock after selling 1,193 shares during the period. NBC Securities Inc.'s holdings in Republic Services were worth $4,205,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after purchasing an additional 44 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Republic Services by 0.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after purchasing an additional 46 shares during the period. Elevation Point Wealth Partners LLC grew its holdings in Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after purchasing an additional 46 shares during the period. Hemington Wealth Management grew its holdings in Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after purchasing an additional 47 shares during the period. Finally, Rothschild Investment LLC grew its holdings in Republic Services by 9.3% during the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after purchasing an additional 51 shares during the period. Institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the company's 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 sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade 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 Price Performance

NYSE:RSG opened at $228.46 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $71.33 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.56 and a beta of 0.59. 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 $235.93 and its 200 day moving average is $241.03.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, equities 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. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. 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 dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RSG. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. BMO Capital Markets boosted their price objective on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Scotiabank boosted their price objective on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Oppenheimer boosted their price objective on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.

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