Empowered Funds LLC Purchases 9,514 Shares of Republic Services, Inc. $RSG

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

Other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in Republic Services in the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the 3rd quarter worth about $26,000. Prosperity Bancshares Inc acquired a new stake in shares of Republic Services during the 4th quarter valued at about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Republic Services in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of Republic Services stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the transaction, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 price objective on shares of Republic Services in a research note on Friday, May 8th. Barclays increased their target price on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. UBS Group cut their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.89.

Republic Services Price Performance

NYSE:RSG opened at $210.75 on Friday. The firm has a market cap of $64.84 billion, a PE 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. 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 company’s 50-day moving average price is $212.57 and its two-hundred day moving average price is $214.98.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services, Inc. will post 7.29 EPS 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. Investors of record on Friday, October 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Republic Services’s previous quarterly dividend of $0.62. Republic Services’s payout ratio is 35.87%.

About Republic Services

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.