Securian Asset Management Inc. Lowers Stake in Republic Services, Inc. $RSG

Securian Asset Management Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,586 shares of the business services provider’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Republic Services were worth $2,611,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Key Financial Inc boosted its holdings in shares of Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 99 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Republic Services in the first quarter valued at about $30,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.4%

RSG stock opened at $220.97 on Wednesday. The company has a market cap of $68.99 billion, a P/E ratio of 32.69, a P/E/G ratio of 3.56 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. The company’s 50-day moving average price is $228.33 and its 200 day moving average price is $238.80. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter 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, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Citigroup lowered their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. National Bankshares lowered their target price on shares of Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Stifel Nicolaus initiated coverage on shares of Republic Services in a report on Monday, September 29th. They issued a “buy” rating and a $257.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a report on Wednesday, October 8th. Finally, Raymond James Financial set a $260.00 target price on shares of Republic Services and gave the company an “outperform” rating in a report on Monday, October 6th. Two equities research 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’s stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $257.10.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. The trade was a 0.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg Brummer sold 7,338 shares of Republic Services 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 transaction, the executive vice president owned 4,060 shares of the company’s stock, valued at approximately $949,796.40. The trade was a 64.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Republic Services 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.