State Street Corp Boosts Stake in Republic Services, Inc. $RSG

Key Points

• State Street increased its Republic Services stake by 1.6% in the second quarter, adding 160,051 shares and bringing its holdings to nearly 10 million shares, worth approximately $2.12 billion. Institutional investors own 57.73% of the company.
• Republic Services beat quarterly expectations with $1.85 in EPS and $4.43 billion in revenue, while revenue grew 4.6% year over year. The company reaffirmed fiscal 2026 EPS guidance of $7.23–$7.28.
• The company raised its quarterly dividend to $0.67 per share, implying an annualized dividend of $2.68 and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $245.26.

State Street Corp raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,953,507 shares of the business services provider's stock after buying an additional 160,051 shares during the period. State Street Corp owned about 3.25% of Republic Services worth $2,120,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in shares of Republic Services during the second quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Republic Services during the 2nd quarter valued at about $27,000. Compass Financial Management LLC acquired a new stake in Republic Services in the 2nd quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services during the fourth quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Republic Services by 47.3% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider's stock valued at $35,000 after purchasing an additional 52 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $213.70 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $65.44 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The firm's fifty day moving average price is $218.14 and its 200 day moving average price is $214.81. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $233.42.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.81 by $0.04. The company had revenue of $4.43 billion during 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 business's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $1.77 EPS. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, sell-side analysts expect that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be issued a dividend of $0.67 per share. This is an increase from Republic Services's previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 2nd. Republic Services's payout ratio is presently 35.41%.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of Republic Services stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $221.49 per share, for a total transaction of $90,700,155.00. Following the transaction, the insider owned 116,166,330 shares in the company, valued at approximately $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought 6,254,462 shares of company stock valued at $1,380,321,958 over the last three months. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RSG shares. UBS Group lifted their target price on Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Republic Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Morgan Stanley set a $232.00 price objective on shares of Republic Services in a research note on Friday, August 7th. Citigroup increased their price objective 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. Finally, Wolfe Research started coverage on shares of Republic Services in a report on Tuesday, September 15th. They set a "peer perform" rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $245.26.

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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