Bank of Montreal Can Sells 77,771 Shares of Republic Services, Inc. $RSG

Bank of Montreal Can cut its holdings in Republic Services, Inc. (NYSE:RSG) by 14.0% during the second quarter, HoldingsChannel reports. The firm owned 478,555 shares of the business services provider’s stock after selling 77,771 shares during the period. Bank of Montreal Can’s holdings in Republic Services were worth $118,016,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Sigma Planning Corp increased its stake in shares of Republic Services by 16.7% in the second quarter. Sigma Planning Corp now owns 8,000 shares of the business services provider’s stock worth $1,973,000 after purchasing an additional 1,142 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Republic Services by 41.0% in the second quarter. iA Global Asset Management Inc. now owns 17,200 shares of the business services provider’s stock worth $4,242,000 after purchasing an additional 5,000 shares during the period. TIAA Trust National Association increased its stake in shares of Republic Services by 8.2% in the second quarter. TIAA Trust National Association now owns 4,444 shares of the business services provider’s stock worth $1,096,000 after purchasing an additional 336 shares during the period. Regal Partners Ltd bought a new position in Republic Services during the second quarter valued at about $250,000. Finally, Longbow Finance SA bought a new position in Republic Services during the second quarter valued at about $8,636,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RSG. National Bankshares lowered their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group set a $248.00 price target on Republic Services and gave the company a “buy” rating in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. Robert W. Baird set a $240.00 price target on Republic Services in a research note on Friday. Finally, Oppenheimer set a $256.00 price target on Republic Services in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.85.

Republic Services Stock Down 1.5%

NYSE RSG opened at $205.10 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $225.11 and its two-hundred day moving average is $237.36. The company has a market capitalization of $64.03 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 3.40 and a beta of 0.59. Republic Services, Inc. has a 1-year low of $198.89 and a 1-year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Insider Activity at Republic Services

In other news, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total value of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares of the company’s stock, valued at $949,796.40. The trade was a 64.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the acquisition, the insider directly owned 109,816,832 shares in the company, valued at $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is 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.