Elevation Point Wealth Partners LLC Takes Position in Republic Services, Inc. $RSG

Elevation Point Wealth Partners LLC acquired a new position in Republic Services, Inc. (NYSE:RSG) in the second quarter, Holdings Channel reports. The fund acquired 4,332 shares of the business services provider’s stock, valued at approximately $923,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RSG. Laurel Wealth Advisors LLC bought a new position in Republic Services during the fourth quarter worth about $25,000. Bell Investment Advisors Inc purchased a new position in Republic Services in the 2nd quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in Republic Services during the 3rd quarter valued at $26,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Republic Services during the second quarter worth $27,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Republic Services in the fourth quarter worth $30,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. acquired 261,664 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $214.89 per share, for a total transaction of $56,228,976.96. Following the completion of the acquisition, the insider owned 111,065,646 shares in the company, valued at approximately $23,866,896,668.94. This represents a 0.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought 1,999,929 shares of company stock worth $434,701,707 over the last quarter. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RSG has been the subject of several analyst reports. Argus downgraded 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 objective on shares of Republic Services in a research note on Friday, August 7th. Barclays increased their target price on shares of Republic Services from $233.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Citigroup boosted their target price on Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.26.

Republic Services Stock Performance

Republic Services stock opened at $223.04 on Tuesday. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $235.98. The firm’s fifty day moving average price is $215.27 and its 200-day moving average price is $215.11. The stock has a market cap of $68.30 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 3.66 and a beta of 0.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last released its earnings results 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. Republic Services had a return on equity of 18.69% and a net margin of 12.94%.The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, 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. Shareholders of record on Friday, October 2nd will be paid a $0.67 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 2nd. Republic Services’s payout ratio is presently 35.41%.

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.