Waste Management falls 4.2%, Republic Services drops 4.3%

Republic Services, Inc. (RSG) and Waste Management, Inc. (WM) both experienced declines on March 10, 2026, with shares falling 4.3% and 4.2%, respectively. RSG, a $70.7 billion market-cap leader in environmental services, has faced persistent underperformance relative to benchmarks and peers. Over the past 52 weeks, RSG shares dropped 2.8%, lagging the VanEck Environmental Services ETF's 16.5% return and WM's 4.4% gain during the same period. Year-to-date, RSG rose 8.7%, but still trailed EVX's 10% and WM's stronger 10.6% YTD performance.

The stock's recent weakness reflects softer demand in construction and manufacturing, leading to organic volume declines and reduced nonrecurring landfill activity. RSG's Q4 results highlighted this trend: while adjusted earnings per share of $1.76 exceeded estimates, revenue of $4.1 billion fell short of expectations. The company projects full-year adjusted EPS between $7.20 and $7.28, with revenue anticipated to reach $17.1–$17.2 billion.

Analysts remain cautiously optimistic, assigning RSG a "Moderate Buy" rating, with a mean price target of $246.87 implying ~7.2% upside from current levels. However, RSG's underperformance against WM and broader industry benchmarks underscores ongoing sector-specific challenges. Both stocks trade above their 200-day moving averages but face pressure from macroeconomic headwinds and competitive dynamics. Investors are advised to monitor volume trends and landfill utilization rates, which remain critical to long-term performance in the waste management sector.