Nissay Asset Management Corp Japan ADV Sells 15,662 Shares of Republic Services, Inc. $RSG

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in Republic Services, Inc. by 3.5% in the first quarter, now holding 429,748 shares valued at approximately $104 million.
• Republic Services has increased its quarterly dividend from $0.58 to $0.625, with a yield of 1.1%, payable on October 15th.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Republic Services, with an average price target of $262.17.

Nissay Asset Management Corp Japan ADV cut its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 429,748 shares of the business services provider's stock after selling 15,662 shares during the period. Republic Services accounts for about 0.7% of Nissay Asset Management Corp Japan ADV's investment portfolio, making the stock its 29th biggest holding. Nissay Asset Management Corp Japan ADV owned 0.14% of Republic Services worth $104,068,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in Republic Services by 3,533.3% during the first 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 acquired a new position in Republic Services during the first quarter valued at approximately $314,000. Sumitomo Mitsui Trust Group Inc. boosted its position in 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 valued at $136,397,000 after purchasing an additional 4,110 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Republic Services in the first quarter valued at approximately $260,000. Finally, GAMMA Investing LLC lifted its position in shares of Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after buying an additional 3,503 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction 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 owned 4,060 shares in the company, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the 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 purchase, the insider owned 109,816,832 shares in the company, 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 owned by company insiders.

Republic Services Stock Performance

NYSE:RSG traded down $4.38 during mid-day trading on Friday, hitting $229.47. 1,086,708 shares of the stock were exchanged, compared to its average volume of 956,763. The stock has a market capitalization of $71.65 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The firm's 50-day simple moving average is $237.22 and its 200 day simple moving average is $241.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results 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 business had revenue of $4.24 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank raised 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. BMO Capital Markets raised 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. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Raymond James Financial raised their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.