AXQ Capital LP Takes $2.60 Million Position in Republic Services, Inc. $RSG

Key Points

• AXQ Capital initiated a $2.60 million position in Republic Services during the second quarter by purchasing 12,189 shares. Other institutions also added positions, with institutional investors and hedge funds owning 57.73% of the stock.
• Republic Services exceeded quarterly expectations, reporting $1.85 in EPS and $4.43 billion in revenue, up 4.6% year over year. Management guided to fiscal 2026 EPS of $7.23–$7.28.
• The company raised its quarterly dividend to $0.67 per share, or $2.68 annually, producing a 1.2% yield. Analysts give RSG a “Moderate Buy” consensus rating with an average price target of $245.26, though the stock trades at an elevated P/E of about 32.

AXQ Capital LP bought a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,189 shares of the business services provider's stock, valued at approximately $2,597,000.

A number of other institutional investors have also recently made changes to their positions in the company. Korea Investment CORP purchased a new position in Republic Services in the 2nd quarter valued at approximately $20,602,000. Bridgewater Advisors Inc. purchased a new stake in shares of Republic Services during the second quarter worth $535,000. Equitable Holdings Inc. purchased a new position in Republic Services in the second quarter valued at $1,381,000. iA Global Asset Management Inc. grew its stake in Republic Services by 18.5% during the 4th quarter. iA Global Asset Management Inc. now owns 64,200 shares of the business services provider's stock worth $13,606,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Republic Services during the 2nd quarter worth about $16,335,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. purchased 329,200 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were bought at an average price of $223.27 per share, with a total value of $73,500,484.00. Following the completion of the purchase, the insider directly owned 115,021,527 shares in the company, valued at approximately $25,680,856,333.29. This trade represents a 0.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 4,217,545 shares of company stock valued at $926,720,260 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of recent analyst reports. Morgan Stanley set a $232.00 price target on Republic Services in a report on Friday, August 7th. UBS Group raised their target price on Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Barclays upped their price target on Republic Services from $233.00 to $240.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Finally, Royal Bank Of Canada upped their target price on shares of Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $245.26.

Republic Services Stock Performance

NYSE:RSG opened at $225.33 on Friday. The firm's fifty day simple moving average is $217.46 and its 200-day simple moving average is $215.13. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.12. The stock has a market cap of $69.00 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.40. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $235.18.

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

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.62. Republic Services's payout ratio is currently 35.41%.

Republic Services News Summary

Here are the key news stories impacting Republic Services this week:

• Positive Sentiment: Cascade continues aggressive buying: Cascade Investment purchased 204,800 RSG shares on September 1 for approximately $45.6 million and another 329,200 shares on September 2 for about $73.5 million. The transactions increased its holdings to roughly 115 million shares, worth more than $25 billion. SEC-disclosed Cascade Investment purchases
• Positive Sentiment: Strong pattern of insider accumulation: Recent reports indicate Cascade has bought approximately 4.67 million Republic Services shares for an estimated $1.01 billion over the past six months, with no reported sales. Investors may view the sustained buying—and Cascade’s reported ownership of about 36.7%—as a significant vote of confidence in RSG’s defensive business model, recurring revenue and dividend record. Cascade Investment stake increase
• Positive Sentiment: Dividend increase supports the investment case: Republic Services raised its quarterly dividend to $0.67 per share from $0.62, equivalent to $2.68 annually and a yield of approximately 1.2%. The payout ratio remains moderate at about 35%, leaving room to support future increases. Republic Services insider buying and dividend report
• Positive Sentiment: Operating momentum remains intact: Republic Services recently exceeded quarterly EPS and revenue expectations, with revenue up 4.6% year over year. Management’s fiscal 2026 EPS guidance of $7.23–$7.28 and analysts’ consensus target near $245 suggest continued earnings growth potential, although the stock’s valuation remains elevated.
• Neutral Sentiment: Valuation and mixed institutional activity warrant monitoring: RSG trades at roughly 32 times earnings, while some large institutions reduced their holdings even as others added shares. This could limit upside if growth or margin expansion fails to meet expectations.

About Republic Services

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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