Republic Services, Inc. $RSG Holdings Decreased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Republic Services, Inc. by 2.7%, resulting in ownership of 121,100 shares valued at approximately $29.3 million.
• A number of institutional investors, including Golden State Wealth Management LLC and TCTC Holdings LLC, significantly increased their holdings in Republic Services during the first quarter.
• Republic Services recently declared a quarterly dividend of $0.625 per share, marking an increase from the previous $0.58 dividend, with a yield of 1.1%.

The Manufacturers Life Insurance Company lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,100 shares of the business services provider's stock after selling 3,355 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Republic Services were worth $29,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. GAMMA Investing LLC increased its position in Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after purchasing an additional 2,220,487 shares in the last quarter. C WorldWide Group Holding A S purchased a new stake in Republic Services during the 1st quarter worth about $230,013,000. Nuveen LLC purchased a new stake in Republic Services during the 1st quarter worth about $198,685,000. Point72 Asset Management L.P. purchased a new stake in Republic Services during the 4th quarter worth about $65,201,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Republic Services during the 1st quarter worth about $63,910,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Insider Activity at Republic Services

In other Republic Services news, EVP Gregg Brummer sold 7,338 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value 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. This represents a 64.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business's stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

RSG has been the subject of a number of recent research reports. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial raised their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 1.9%

Shares of NYSE RSG traded down $4.38 during midday trading on Friday, hitting $229.47. The stock had a trading volume of 1,086,708 shares, compared to its average volume of 938,245. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 3.65 and a beta of 0.59. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. 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 company has a fifty day moving average price of $237.22 and a 200 day moving average price of $240.98.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio is presently 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.