Vontobel Holding Ltd. Reduces Holdings in Republic Services, Inc. $RSG

Vontobel Holding Ltd. decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,438 shares of the business services provider’s stock after selling 803 shares during the period. Vontobel Holding Ltd.’s holdings in Republic Services were worth $11,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. C WorldWide Group Holding A S bought a new stake in shares of Republic Services during the first quarter valued at approximately $230,013,000. Nuveen LLC bought a new stake in shares of Republic Services during the first quarter valued at approximately $198,685,000. Robeco Institutional Asset Management B.V. raised its position in shares of Republic Services by 118.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock valued at $198,869,000 after buying an additional 437,190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Republic Services by 27.9% during the first 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 valued at $427,009,000 after buying an additional 384,695 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Republic Services during the first quarter valued at approximately $63,910,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 1.6%

NYSE RSG opened at $221.70 on Friday. 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 of $230.31 and a two-hundred day moving average of $239.88. The firm has a market capitalization of $69.22 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 3.64 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.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.58. 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. Republic Services’s payout ratio is presently 36.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target 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. Citigroup reduced their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. National Bankshares reduced their price target on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a research report on Wednesday. Finally, Scotiabank boosted their price target on shares of Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $259.35.

Insiders Place Their Bets

In other news, EVP Gregg Brummer sold 7,338 shares of the business’s 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 of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

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.