NBC Securities Inc. Sells 1,193 Shares of Republic Services, Inc. $RSG

NBC Securities Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,054 shares of the business services provider’s stock after selling 1,193 shares during the period. NBC Securities Inc.’s holdings in Republic Services were worth $4,205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Mirabaud & Cie SA bought a new position in shares of Republic Services during the second quarter valued at approximately $1,721,000. Gallacher Capital Management LLC bought a new position in shares of Republic Services during the second quarter valued at approximately $262,000. Parallel Advisors LLC grew its stake in shares of Republic Services by 3.7% during the second quarter. Parallel Advisors LLC now owns 3,944 shares of the business services provider’s stock valued at $973,000 after buying an additional 139 shares during the last quarter. Trust Co. of Oklahoma bought a new position in shares of Republic Services during the second quarter valued at approximately $558,000. Finally, Fox Hill Wealth Management grew its stake in shares of Republic Services by 22.7% during the second quarter. Fox Hill Wealth Management now owns 1,232 shares of the business services provider’s stock valued at $304,000 after buying an additional 228 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,716,651.72. Following the sale, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $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 Stock Down 1.6%

Republic Services stock opened at $228.46 on Monday. The business has a fifty day moving average of $235.93 and a two-hundred day moving average of $241.03. 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 firm has a market cap of $71.33 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.56 and a beta of 0.59. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 18.27% and a net margin of 12.97%.Republic Services’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. 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. Republic Services’s dividend payout ratio (DPR) is currently 34.32%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets upped their target price on Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Raymond James Financial increased their price objective on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Wall Street Zen cut Republic Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Melius Research raised Republic Services to a “hold” rating and set a $281.00 price objective on the stock in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.17.

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.