Bank of America Corp DE Purchases Shares of 3,203,365 Republic Services, Inc. $RSG

Bank of America Corp DE acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,203,365 shares of the business services provider's stock, valued at approximately $682,573,000. Bank of America Corp DE owned approximately 1.05% of Republic Services as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RSG. Wallace Capital Management Inc. purchased a new stake in shares of Republic Services in the second quarter valued at $16,460,000. Caisse de depot et placement du Quebec purchased a new stake in Republic Services in the 2nd quarter worth about $9,051,000. Man Group plc purchased a new stake in Republic Services in the 2nd quarter worth about $44,462,000. Jupiter Topco LLC bought a new stake in Republic Services in the second quarter worth about $5,081,000. Finally, J. Goldman & Co LP purchased a new position in shares of Republic Services during the second quarter valued at approximately $243,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Key Republic Services News

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

• Positive Sentiment: Large shareholder continues accumulating shares. Cascade Investment, associated with Bill Gates, purchased 256,000 RSG shares at an average $222.30 and 324,810 shares at $222.89. Including earlier September purchases, Cascade acquired approximately 580,710 shares worth about $129.3 million, modestly increasing its already substantial position. The buying may reinforce confidence in Republic Services’ defensive waste-collection business and provide some support for the shares. Cascade Investment purchases Republic Services shares
• Positive Sentiment: Dividend increased. Republic Services declared a quarterly dividend of $0.67 per share, up from $0.62, for an annualized payout of $2.68 and an approximately 1.2% yield. The increase signals continued confidence in cash-flow generation, although the yield remains modest. Republic Services insider activity
• Positive Sentiment: Defensive fundamentals remain attractive. The company recently exceeded quarterly earnings and revenue expectations, with revenue rising 4.6% year over year. Its municipal contracts, inflation-linked pricing, recycling operations and renewable natural gas initiatives support the investment case. The average analyst price target of $245.26 also indicates potential upside from recent trading levels.
• Neutral Sentiment: Wolfe Research initiated coverage with a “Peer Perform” rating. The rating suggests analysts view RSG as fairly valued relative to industry peers rather than expecting significant near-term outperformance. This is a neutral addition to the research coverage. Benzinga coverage report
• Negative Sentiment: Valuation and operating risks could restrain gains. Republic Services trades at roughly 32 times earnings and offers a lower dividend yield than Waste Management. Investors also face risks from high interest rates, the capital intensity of landfill development and potential weakness in commercial construction activity.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Barclays upped their price target on shares of Republic Services from $233.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Citigroup raised their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Wolfe Research assumed coverage on shares of Republic Services in a report on Tuesday. They set a "peer perform" rating for the company. Finally, UBS Group upped their target price on shares of Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $245.26.

Republic Services Trading Down 1.4%

NYSE:RSG opened at $222.71 on Wednesday. The stock has a market capitalization of $68.19 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 3.74 and a beta of 0.40. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $233.42. 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 firm has a 50 day moving average of $218.48 and a 200 day moving average of $215.25.

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

Republic Services Increases Dividend

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

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. bought 409,500 shares of Republic Services stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $221.49 per share, for a total transaction of $90,700,155.00. Following the purchase, the insider directly owned 116,166,330 shares of the company's stock, valued at approximately $25,729,680,431.70. The trade was a 0.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have purchased 6,254,462 shares of company stock worth $1,380,321,958. Corporate insiders own 0.12% of the company's stock.

About Republic Services

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, offering scheduled and on-demand waste pickup, roll-off containers, transfer-station services and landfill disposal.

Its recycling and environmental services include the collection and processing of recyclable materials, organics management, waste reduction programs and related sustainability solutions.

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