Republic Services, Inc. $RSG Stake Reduced by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has decreased its stake in Republic Services by 11.0%, now owning approximately 1,381,957 shares valued at about $334.7 million.
• Republic Services recently increased its quarterly dividend to $0.625 per share, representing an annualized dividend of $2.50 with a yield of 1.1%.
• After several analysts revised their price targets, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Ameriprise Financial Inc. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,381,957 shares of the business services provider's stock after selling 170,158 shares during the quarter. Ameriprise Financial Inc. owned about 0.44% of Republic Services worth $334,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Republic Services by 0.4% in the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC grew its stake in shares of Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after purchasing an additional 46 shares in the last quarter. Hemington Wealth Management grew its stake in shares of Republic Services by 6.2% in the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after purchasing an additional 47 shares in the last quarter. Finally, FORA Capital LLC grew its stake in shares of Republic Services by 0.7% in the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the acquisition, the insider directly 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently 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 research note on Monday, June 9th. Morgan Stanley raised their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Melius initiated coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, April 25th. Two investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Trading Down 0.6%

Shares of NYSE RSG opened at $234.1310 on Friday. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a market cap of $73.10 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 3.67 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $240.12 and a 200-day simple moving average of $240.39.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the business posted $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 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This is a positive change from Republic Services's previous quarterly dividend of $0.58. 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. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

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.

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