Greenland Capital Management LP Purchases New Shares in Republic Services, Inc. $RSG

Key Points

• Greenland Capital Management acquired 24,660 Republic Services shares worth approximately $5.26 million in the second quarter. Institutional investors and hedge funds collectively own 57.73% of the company.
• Major shareholder Cascade Investment purchased 329,200 shares valued at roughly $73.5 million, while insiders bought more than $926.7 million of stock over the past 90 days.
• Republic Services exceeded quarterly earnings and revenue estimates, and raised its quarterly dividend to $0.67 per share from $0.62. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $245.26.

Greenland Capital Management LP acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,660 shares of the business services provider's stock, valued at approximately $5,255,000.

Other institutional investors have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its holdings in Republic Services by 11.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 445 shares of the business services provider's stock worth $94,000 after purchasing an additional 45 shares during the period. Focus Financial Network Inc. grew its holdings in Republic Services by 2.5% in the second quarter. Focus Financial Network Inc. now owns 1,861 shares of the business services provider's stock valued at $397,000 after purchasing an additional 46 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position 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 buying an additional 48 shares in the last quarter. Williams Jones Wealth Management LLC. raised its stake in shares of Republic Services by 2.6% during the 4th 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 lifted its position in shares of 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 buying an additional 50 shares in the last quarter. 57.73% of the stock is currently 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 that occurred on Wednesday, September 2nd. The stock was purchased at an average price of $223.27 per share, with a total value of $73,500,484.00. Following the completion of the acquisition, the insider owned 115,021,527 shares in the company, valued at $25,680,856,333.29. This trade represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 4,217,545 shares of company stock valued at $926,720,260 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

Republic Services Stock Down 0.1%

NYSE RSG opened at $222.58 on Monday. The business has a fifty day moving average price of $217.58 and a 200 day moving average price of $215.13. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $68.16 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.69 and a beta of 0.40. Republic Services, Inc. has a one year low of $196.41 and a one year high of $233.77.

Republic Services (NYSE:RSG - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $4.36 billion. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. Research analysts anticipate that Republic Services, Inc. will post 7.27 EPS 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. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. This is an increase from Republic Services's previous quarterly dividend of $0.62. Republic Services's payout ratio is presently 35.41%.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent analyst reports. Barclays boosted 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 increased their price objective on shares of Republic Services from $247.00 to $259.00 and gave the company a "buy" rating in a report on Friday, July 10th. Argus cut shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Monday, May 11th. Morgan Stanley set a $232.00 price target on shares of Republic Services in a research report on Friday, August 7th. Finally, UBS Group raised their price target on shares of Republic Services from $233.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $245.26.

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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