Voya Investment Management LLC Sells 1,431 Shares of Republic Services, Inc. $RSG

Key Points

• Voya Investment Management LLC reduced its stake in Republic Services by 1.7%, selling 1,431 shares and holding 81,112 shares valued at approximately $19.64 million.
• Republic Services has increased its quarterly dividend from $0.58 to $0.625 per share, representing an annualized yield of 1.1% and a payout ratio of 34.32%.
• BMO Capital Markets and Raymond James Financial have raised their price targets on Republic Services stock, now sitting between $260.00 and $284.00, indicating positive analyst sentiment.

Voya Investment Management LLC lessened its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,112 shares of the business services provider's stock after selling 1,431 shares during the period. Voya Investment Management LLC's holdings in Republic Services were worth $19,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 2,220,487 shares during the period. C WorldWide Group Holding A S bought a new stake in shares of Republic Services during the 1st quarter worth approximately $230,013,000. Nuveen LLC bought a new stake in shares of Republic Services during the 1st quarter worth approximately $198,685,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Republic Services by 27.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,763,333 shares of the business services provider's stock worth $427,009,000 after purchasing an additional 384,695 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Republic Services during the 1st quarter worth approximately $63,910,000. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

RSG stock opened at $228.46 on Monday. The company has a fifty day moving average price of $235.93 and a 200-day moving average price of $241.03. The company has a market capitalization of $71.33 billion, a P/E ratio of 33.80, a PEG ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

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, topping 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 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 earnings per share. Republic Services's revenue for the quarter 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. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is currently 34.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RSG shares. BMO Capital Markets upped their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Raymond James Financial upped their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Melius initiated coverage on shares of Republic Services in a research report on Monday, June 9th. They set a "hold" rating for the company. Finally, Scotiabank upped their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Friday, July 18th. 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $262.17.

Insider Buying and Selling at Republic Services

In other news, 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 transaction of $1,716,651.72. Following the completion of the sale, the executive vice president directly owned 4,060 shares in the company, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares of the company's stock, valued at $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company's stock.

About Republic Services

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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