Wallace Capital Management Inc. Purchases Shares of 77,246 Republic Services, Inc. $RSG

Wallace Capital Management Inc. purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 77,246 shares of the business services provider’s stock, valued at approximately $16,460,000. Republic Services comprises about 1.8% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors also recently modified their holdings of the business. Caisse de depot et placement du Quebec acquired a new stake in Republic Services in the second quarter valued at $9,051,000. Man Group plc acquired a new position in Republic Services during the 2nd quarter worth about $44,462,000. Jupiter Topco LLC acquired a new position in Republic Services during the 2nd quarter worth about $5,081,000. J. Goldman & Co LP bought a new stake in shares of Republic Services in the 2nd quarter valued at about $243,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Republic Services in the second quarter valued at about $93,210,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $221.96 on Thursday. The firm has a market cap of $67.97 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 3.66 and a beta of 0.40. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $235.18. The business’s 50 day moving average price is $215.79 and its two-hundred day moving average price is $215.15. 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 quarterly earnings data on Thursday, August 6th. The business services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.04. Republic Services had a net margin of 12.94% and a return on equity of 18.69%. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business posted $1.77 EPS. Republic Services’s revenue for the quarter was up 4.6% compared to the same quarter last year. Republic Services has set its FY 2026 guidance at 7.230-7.280 EPS. On average, equities analysts anticipate 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. Stockholders 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 35.41%.

Insider Activity

In other news, major shareholder Cascade Investment, L.L.C. bought 301,639 shares of Republic Services stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $222.91 per share, for a total transaction of $67,238,349.49. Following the purchase, the insider directly owned 113,105,550 shares in the company, valued at approximately $25,212,358,150.50. This represents a 0.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 2,571,045 shares of company stock worth $561,731,613. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note 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. Argus downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $249.00 price objective on shares of Republic Services in a research report on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $245.26.

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.