Victory Capital Management Inc. Sells 93,025 Shares of Republic Services, Inc. (NYSE:RSG)

13 Nov 2024, 12:36 by Michael Walen · The Markets Daily

Victory Capital Management Inc. cut its holdings in Republic Services, Inc. (NYSE:RSG – Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 925,229 shares of the business services provider’s stock after selling 93,025 shares during the quarter. Victory Capital Management Inc.’s holdings in Republic Services were worth $185,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares in the last quarter. Capital World Investors lifted its holdings in shares of Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after buying an additional 92,013 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after buying an additional 35,650 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Trading Up 0.2 %

NYSE:RSG opened at $212.24 on Wednesday. The firm’s 50 day moving average is $203.39 and its 200 day moving average is $197.53. Republic Services, Inc. has a 12 month low of $156.83 and a 12 month high of $214.96. The stock has a market capitalization of $66.46 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % 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 the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Raymond James cut their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

View Our Latest Stock Analysis on RSG

Republic Services Company Profile

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