Republic Services, Inc. $RSG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Republic Services by 16.7%, owning 1,702,630 shares worth approximately $419.9 million after selling 341,182 shares.
• The company recently increased its quarterly dividend from $0.58 to $0.625, representing an annualized dividend of $2.50 and a yield of 1.1%.
• Several analysts have set price targets for Republic Services, with a consensus rating of "Moderate Buy" and an average target price of $258.85.

TD Asset Management Inc cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 16.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,702,630 shares of the business services provider's stock after selling 341,182 shares during the period. TD Asset Management Inc owned 0.54% of Republic Services worth $419,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. TCTC Holdings LLC boosted its stake in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Key Financial Inc boosted its stake in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares in the last quarter. Finally, Elequin Capital LP acquired a new stake in Republic Services in the 1st quarter worth approximately $30,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on RSG shares. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Barclays started coverage on shares of Republic Services in a research note on Friday, September 19th. They set an "equal weight" rating and a $240.00 price objective for the company. Oppenheimer decreased their price objective on shares of Republic Services from $268.00 to $263.00 and set an "outperform" rating for the company in a research note on Wednesday, October 8th. Citigroup decreased their price objective on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Finally, BMO Capital Markets lifted their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.85.

Republic Services Stock Performance

RSG opened at $223.04 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a fifty day moving average price of $230.01 and a 200 day moving average price of $239.70. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The stock has a market cap of $69.64 billion, a P/E ratio of 32.99, a P/E/G ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last posted its 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 firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the business posted $1.61 EPS. The business'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. Equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current 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 paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 36.98%.

Insider Buying and Selling at Republic Services

In related news, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction 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 owned 4,060 shares of the company's stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the business's stock in a transaction that occurred on 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 acquisition, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their position. 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.

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.