Ancora Advisors LLC Makes New $8.42 Million Investment in Republic Services, Inc. $RSG

Key Points

• Ancora Advisors initiated an approximately $8.42 million position in Republic Services during the second quarter by purchasing 39,522 shares. Institutional investors collectively own 57.73% of the company.
• Republic Services exceeded quarterly expectations, reporting $1.85 in EPS versus the $1.81 consensus and $4.43 billion in revenue, up 4.6% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $245.26.
• The company raised its quarterly dividend from $0.62 to $0.67 per share, equivalent to a $2.68 annualized payout and a 1.2% yield. Major shareholder Cascade Investment also purchased more than $42 million of Republic Services stock.

Ancora Advisors LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,522 shares of the business services provider's stock, valued at approximately $8,421,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Republic Services by 11.3% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider's stock valued at $94,000 after acquiring an additional 45 shares during the period. Focus Financial Network Inc. grew its position in Republic Services by 2.5% in the 2nd quarter. Focus Financial Network Inc. now owns 1,861 shares of the business services provider's stock worth $397,000 after purchasing an additional 46 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Republic Services by 0.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,454 shares of the business services provider's stock valued at $2,216,000 after purchasing an additional 48 shares during the period. Williams Jones Wealth Management LLC. boosted its position in shares of Republic Services by 2.6% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,925 shares of the business services provider's stock worth $408,000 after buying an additional 49 shares during the period. Finally, AlphaCentric Advisors LLC raised its stake in Republic Services by 5.9% during the 1st quarter. AlphaCentric Advisors LLC now owns 903 shares of the business services provider's stock valued at $198,000 after acquiring an additional 50 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research analyst reports. Citigroup raised their price target on Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a report on Friday, July 10th. Morgan Stanley set a $232.00 target price on shares of Republic Services in a research note on Friday, August 7th. Argus lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. UBS Group increased their price objective on shares of Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $245.26.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. purchased 191,361 shares of Republic Services stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of $220.34 per share, for a total transaction of $42,164,482.74. Following the transaction, the insider owned 112,803,911 shares in the company, valued at $24,855,213,749.74. The trade was a 0.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 1,999,929 shares of company stock worth $434,701,707 in the last quarter. 0.12% of the stock is owned by insiders.

Republic Services Price Performance

NYSE RSG opened at $221.22 on Wednesday. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $235.18. The business's fifty day moving average is $215.50 and its two-hundred day moving average is $215.13. The stock has a market capitalization of $67.74 billion, a P/E ratio of 31.33, a P/E/G ratio of 3.70 and a beta of 0.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.04. The business had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.36 billion. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, research analysts forecast that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a $0.67 dividend. The ex-dividend date is Friday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. Republic Services's dividend payout ratio is 35.41%.

Republic Services Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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