Envestnet Asset Management Inc. Grows Position in Republic Services, Inc. $RSG

Key Points

• Envestnet Asset Management increased its Republic Services stake by 6.7% in the second quarter, owning 665,127 shares valued at approximately $141.7 million. Institutional investors collectively hold 57.73% of the company.
• Republic Services exceeded quarterly expectations, reporting $1.85 in EPS on $4.43 billion in revenue, with revenue up 4.6% year over year. Analysts expect full-year 2026 EPS of about $7.27.
• The company raised its quarterly dividend from $0.625 to $0.67 per share, equivalent to an annualized $2.68 payout and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $245.26.

Envestnet Asset Management Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665,127 shares of the business services provider's stock after buying an additional 42,027 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Republic Services worth $141,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. State Street Corp boosted its position in shares of Republic Services by 1.6% in the second quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock valued at $2,120,893,000 after acquiring an additional 160,051 shares during the period. Integrated Wealth Concepts LLC raised its position in Republic Services by 32.2% during the second quarter. Integrated Wealth Concepts LLC now owns 7,716 shares of the business services provider's stock valued at $1,644,000 after purchasing an additional 1,878 shares in the last quarter. Nykredit A S acquired a new stake in shares of Republic Services in the 2nd quarter valued at $24,534,000. Corient Private Wealth LP increased its stake in shares of Republic Services by 39.0% in the 2nd quarter. Corient Private Wealth LP now owns 153,096 shares of the business services provider's stock valued at $32,622,000 after purchasing an additional 42,943 shares during the last quarter. Finally, Schulz Wealth LTD. acquired a new position in shares of Republic Services during the 2nd quarter worth $279,000. Institutional investors own 57.73% of the company's stock.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 409,500 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the purchase, the insider owned 116,166,330 shares of the company's stock, valued at approximately $25,729,680,431.70. This trade represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 6,254,462 shares of company stock worth $1,380,321,958. Company insiders own 0.12% of the company's stock.

Republic Services Stock Down 0.3%

RSG opened at $212.15 on Friday. The firm has a market capitalization of $64.96 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.40. Republic Services, Inc. has a one year low of $196.41 and a one year high of $233.42. The company has a fifty day moving average price of $217.63 and a 200-day moving average price of $214.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.43 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. 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. Equities research analysts expect that Republic Services, Inc. will post 7.27 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.6250. Republic Services's dividend payout ratio (DPR) is 35.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RSG. Weiss Ratings upgraded shares of Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. UBS Group upped their price objective on Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Citigroup lifted their target price on shares of Republic Services from $247.00 to $259.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Morgan Stanley set a $232.00 price target on Republic Services in a research report on Friday, August 7th. Finally, Wolfe Research began coverage on shares of Republic Services in a research note on Tuesday, September 15th. They set a "peer perform" rating for the company. 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $245.26.

Republic Services Company Profile

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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