Republic Services, Inc. $RSG Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in Republic Services by 5.9%, acquiring an additional 1,769 shares, bringing its total to 31,699 shares worth approximately $7.8 million.
• Republic Services declared a quarterly dividend of $0.625, representing an increase from the previous dividend, with an annual yield of 1.1% and an ex-dividend date of October 2nd.
• Analysts have mixed ratings on Republic Services, with a consensus of "Moderate Buy" and a price target averaging $261.72, reflecting various upgrades and downgrades in recent research reports.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,699 shares of the business services provider's stock after acquiring an additional 1,769 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Republic Services were worth $7,817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after buying an additional 170,548 shares in the last quarter. Wellington Management Group LLP increased its stake in Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider's stock worth $1,438,237,000 after acquiring an additional 42,019 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider's stock worth $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Republic Services by 4.3% during the first quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider's stock worth $695,541,000 after acquiring an additional 119,158 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

NYSE RSG traded up $0.19 on Friday, hitting $226.90. 1,968,166 shares of the company's stock were exchanged, compared to its average volume of 1,007,804. 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's 50-day moving average price is $234.54 and its two-hundred day moving average price is $240.64. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The firm has a market cap of $70.84 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.54 and a beta of 0.59.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The company'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. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is currently 34.32%.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider directly owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of the 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. This represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RSG shares. BMO Capital Markets raised their target price on Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Citigroup dropped their price objective on Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday. Raymond James Financial lifted their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Melius Research raised Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $260.58.

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.