Picton Mahoney Asset Management Decreases Stock Position in Republic Services, Inc. $RSG

Picton Mahoney Asset Management decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 46.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,095 shares of the business services provider’s stock after selling 4,495 shares during the period. Picton Mahoney Asset Management’s holdings in Republic Services were worth $1,169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RSG. Norges Bank purchased a new position in Republic Services during the 2nd quarter valued at approximately $690,313,000. Bessemer Group Inc. boosted its position in shares of Republic Services by 7,683.2% during the 3rd quarter. Bessemer Group Inc. now owns 739,792 shares of the business services provider’s stock valued at $169,768,000 after acquiring an additional 730,287 shares during the last quarter. M&G PLC grew its holdings in shares of Republic Services by 113.0% in the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock valued at $287,670,000 after purchasing an additional 617,939 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Republic Services by 174.6% in the second quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock worth $169,038,000 after purchasing an additional 435,816 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Republic Services by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 3,098,273 shares of the business services provider’s stock valued at $711,003,000 after purchasing an additional 409,142 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Republic Services from $230.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. The Goldman Sachs Group began coverage on shares of Republic Services in a report on Monday, November 24th. They issued a “buy” rating and a $255.00 price target for the company. Wells Fargo & Company started coverage on Republic Services in a research note on Thursday, November 13th. They set an “overweight” rating and a $238.00 price objective on the stock. Sanford C. Bernstein upped their price objective on Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Finally, Oppenheimer dropped their target price on Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.70.

Republic Services Stock Performance

Republic Services stock opened at $231.63 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $71.53 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 3.82 and a beta of 0.54. Republic Services, Inc. has a 1-year low of $201.42 and a 1-year high of $258.75. The company’s 50-day moving average is $217.73 and its 200 day moving average is $219.55.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, February 17th. The business services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. Republic Services had a return on equity of 18.44% and a net margin of 12.90%.The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Republic Services has set its FY 2026 guidance at 7.200-7.28 EPS. Research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Thursday, April 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is presently 36.50%.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the completion of the purchase, the director owned 5,740 shares of the company’s stock, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Republic Services Company 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.