T. Rowe Price Investment Management Inc. Has $1.97 Million Stock Holdings in Republic Services, Inc. $RSG

Key Points

• T. Rowe Price Investment Management Inc. has significantly reduced its stake in Republic Services, Inc. by 79.9%, now owning only 8,131 shares valued at approximately $1.97 million.
• In contrast, other institutional investors like Vanguard Group Inc. and JPMorgan Chase & Co. increased their holdings, indicating varied investor sentiment towards the company.
• Republic Services recently announced a quarterly dividend increase to $0.625 per share, translating to an annualized yield of 1.1%, showcasing a commitment to returning value to shareholders.

T. Rowe Price Investment Management Inc. lessened its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 79.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,131 shares of the business services provider's stock after selling 32,318 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Republic Services were worth $1,970,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RSG. EntryPoint Capital LLC acquired a new stake in shares of Republic Services during the first quarter worth about $251,000. Venture Visionary Partners LLC raised its position in Republic Services by 28.6% in the 1st quarter. Venture Visionary Partners LLC now owns 3,423 shares of the business services provider's stock valued at $829,000 after purchasing an additional 762 shares during the last quarter. Carmignac Gestion purchased a new stake in Republic Services in the 1st quarter valued at $1,879,000. Bowen Hanes & Co. Inc. raised its position in Republic Services by 5.6% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 237,260 shares of the business services provider's stock valued at $57,455,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Credit Agricole S A raised its position in Republic Services by 7.8% in the 1st quarter. Credit Agricole S A now owns 110,932 shares of the business services provider's stock valued at $26,863,000 after purchasing an additional 8,029 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Up 0.2%

Shares of RSG stock traded up $0.44 during mid-day trading on Friday, reaching $233.54. 322,158 shares of the company were exchanged, compared to its average volume of 1,278,972. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two 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 has a market capitalization of $72.91 billion, a P/E ratio of 34.55, a P/E/G ratio of 3.67 and a beta of 0.60. The business's 50 day simple moving average is $238.94 and its 200 day simple moving average is $240.73.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results 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 previous year, the company posted $1.61 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 34.32%.

Insider Activity at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, with a total value 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 $25,797,072,005.12. The trade was a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total value 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. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RSG shares. JPMorgan Chase & Co. upped their price objective on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Oppenheimer upped their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. BMO Capital Markets upped their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Finally, Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average 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.