Empowered Funds LLC Has $6.80 Million Stock Position in Republic Services, Inc. $RSG

Empowered Funds LLC lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 44.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,048 shares of the business services provider’s stock after purchasing an additional 9,514 shares during the period. Empowered Funds LLC’s holdings in Republic Services were worth $6,800,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wealth Watch Advisors INC bought a new position in Republic Services during the third quarter valued at about $26,000. Laurel Wealth Advisors LLC bought a new stake in shares of Republic Services during the 4th quarter worth about $25,000. Prosperity Bancshares Inc bought a new stake in shares of Republic Services during the 4th quarter worth about $30,000. Sound Income Strategies LLC acquired a new position in shares of Republic Services during the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Republic Services in the 4th quarter valued at approximately $32,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

RSG opened at $210.75 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $212.57 and its two-hundred day moving average price is $214.98. The firm has a market capitalization of $64.84 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 3.53 and a beta of 0.40. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $238.62.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 7.29 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, October 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s dividend payout ratio is currently 35.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RSG shares. Robert W. Baird decreased their target price on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Argus lowered shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Republic Services in a report on Friday, July 24th. Barclays raised their target price on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, UBS Group dropped their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.89.

Insiders Place Their Bets

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. bought 60,700 shares of Republic Services stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the purchase, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. This trade represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% 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.