Vaughan Nelson Investment Management L.P. Lowers Holdings in Republic Services, Inc. $RSG

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its holdings in Republic Services, Inc. by 60.3%, owning 104,812 shares valued at approximately $25.8 million after the sale of 159,103 shares in Q2.
• Republic Services recently announced a quarterly dividend of $0.625 per share, a slight increase from the previous dividend, representing an annualized yield of 1.1%.
• Oppenheimer and several other analysts have raised their price targets for Republic Services, with Oppenheimer setting it at $268.00, reflecting a positive outlook for the company's stock performance.

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 60.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,812 shares of the business services provider's stock after selling 159,103 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in Republic Services were worth $25,848,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RSG. Golden State Wealth Management LLC grew its stake in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Capital Management Associates Inc purchased a new stake in Republic Services during the first quarter valued at about $314,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after acquiring an additional 4,110 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Republic Services in the 1st quarter worth about $260,000. Finally, GAMMA Investing LLC lifted its stake in shares of Republic Services by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after purchasing an additional 3,503 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Republic Services stock opened at $224.14 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 debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $69.98 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The firm's fifty day moving average price is $231.45 and its 200 day moving average price is $240.24.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share 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 company had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is currently 36.98%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Stifel Nicolaus assumed coverage on shares of Republic Services in a report on Monday, September 29th. They set a "buy" rating and a $257.00 target price on the stock. Raymond James Financial increased their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Republic Services in a research note on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $260.58.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

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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