Republic Services, Inc. $RSG Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its stake in Republic Services, Inc. by 13.7%, now holding approximately 0.07% of the company worth $54.3 million after selling nearly 35,000 shares.
• Republic Services announced an increased quarterly dividend of $0.625 per share, up from $0.58, representing a 1.1% yield based on the current stock price.
• JPMorgan Chase lowered its target price for Republic Services shares from $275.00 to $260.00, while the consensus rating remains a "Moderate Buy" with an average target price of $258.10.

AEGON ASSET MANAGEMENT UK Plc decreased its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,377 shares of the business services provider's stock after selling 34,955 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.07% of Republic Services worth $54,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RSG. Golden State Wealth Management LLC lifted its stake in shares of Republic Services by 3,533.3% in 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 period. Cranbrook Wealth Management LLC increased its holdings in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Key Financial Inc increased its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC increased its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Finally, Elequin Capital LP purchased a new position in Republic Services during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RSG shares. JPMorgan Chase & Co. dropped their target price on shares of Republic Services from $275.00 to $260.00 and set a "neutral" rating for the company in a report on Tuesday. National Bankshares dropped their target price on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating for the company in a report on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Services in a report on Wednesday, October 8th. Oppenheimer lowered their price target on shares of Republic Services from $268.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. Finally, Citigroup lowered their price target on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.10.

Republic Services Price Performance

Republic Services stock opened at $224.59 on Wednesday. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The firm has a 50 day moving average price of $229.86 and a 200 day moving average price of $239.60. The company has a market cap of $70.12 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 3.61 and a beta of 0.59. 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 (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. Republic Services's revenue 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. Sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change 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 payout ratio is presently 36.98%.

Insider Buying and Selling

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of Republic Services stock in a transaction that occurred on Friday, August 22nd. The shares were 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 of the company's stock, valued at $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost 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 $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. Insiders own 0.11% of the company's stock.

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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