TD Asset Management Inc Cuts Stock Position in Republic Services, Inc. $RSG

TD Asset Management Inc decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,702,630 shares of the business services provider’s stock after selling 341,182 shares during the quarter. TD Asset Management Inc’s holdings in Republic Services were worth $419,886,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares in the last quarter. TCTC Holdings LLC grew its holdings in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc grew its holdings in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after buying an additional 99 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Republic Services during the first quarter worth $30,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of Republic Services in a report on Monday, September 29th. They issued a “buy” rating and a $257.00 price objective for the company. Barclays began coverage on shares of Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. Finally, Scotiabank set a $250.00 price objective on shares of Republic Services in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.85.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were acquired 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregg Brummer sold 7,338 shares of the 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Republic Services Trading Down 0.9%

NYSE RSG opened at $223.04 on Tuesday. The firm’s 50-day moving average is $230.01 and its two-hundred day moving average is $239.70. 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 stock has a market capitalization of $69.64 billion, a P/E ratio of 32.99, a PEG ratio of 3.64 and a beta of 0.59.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS 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 for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter 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. On average, sell-side analysts anticipate 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. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. 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 yield of 1.1%. Republic Services’s dividend payout ratio is currently 36.98%.

Republic Services Company 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.